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Massmart

From Wikipedia, the free encyclopedia

Massmart Holdings Limited
TypePrivate Subsidiary
JSE: MSM
IndustryRetail
Founded1990; 36 years ago (1990)
FounderMark Lamberti[1]
Headquarters
Sandton
,
South Africa
Number of locations
411 (2022)[2]
Area served
Sub-Saharan Africa
ProductsFood, Liquor, General merchandise, Home Improvement
RevenueIncrease R91.56 billion (2016)[3]
Increase R2.60 billion (2016)[3]
Increase R1.32 billion (2016)[3]
Total assetsIncrease R31.88 billion (2016)[3]
Total equityIncrease R6.18 billion (2016)[3]
Number of employees
45,000+ (2015)
ParentWalmart (Since 2011)
DivisionsMassdiscounters
Masswarehouse
Masscash
Massmart
SubsidiariesMakro
Game
Builders Warehouse
CBW
Websitewww.massmart.co.za

Massmart, officially Massmart Holdings Limited, is a South African retail company that owns and operates multiple major local chains, including Game, Makro, Builders Warehouse, and CBW. Massmart is the second-largest distributor of consumer goods in Africa, the largest retailer of general merchandise, liquor and home improvement equipment and wholesaler of basic foods.[4]

As of 31 October 2022, Massmart operated 411 stores in South Africa and 12 other Sub-Saharan countries.[5] The company is headquartered in Sandton, Gauteng,[6] and has been owned by US retail company Walmart since 2011.[7][8]

History

[edit]

Massmart was founded in 1990, beginning with the acquisition of six Makro stores.[9] It was listed on the JSE Limited on 4 July 2000 at R12.50 per share until it was taken private by Walmart in 2022.[10]

In November 2010, US retail company Walmart made a bid to acquire a majority shareholding (51%) in Massmart. At the time, the offer was valued at approximately R17 billion.[11][8] On 18 January 2011, Massmart shareholders voted in favour of Walmart's offer of R148 per share.[8] South Africa's Competition Tribunal gave its approval of the acquisition of 51% of the firm in May 2011.[12] Shortly thereafter, in June 2011, Walmart completed the purchase of 51% of the company's stock.[13]

In 2011, the South African Government, through the Department of Economic Development, and the Department of Trade and Industry, lodged an appeal to the decision of the Competition Tribunal's decision to allow the merger with minimal conditions. This followed a similar, earlier appeal filed by local labor union SACCAWU.

In March 2012, the appeals court dismissed the case by the governmental ministries, but acknowledged that there were legitimate concerns about the effect of the deal on small producers and employment. The appeals court decision effectively put an end to the legal challenges to the merger.[14]

In August 2022, Walmart made an offer to acquire the remaining non-controlling shares of Massmart,[15] and by the end of November the scheme had been finalised and closed, making Massmart a wholly owned subsidiary of Walmart.[16][17]

Divisions

[edit]
A Makro store, showing the company's old branding, in Milnerton, Cape Town

Massmart's stores are organised into 4 divisions. The stores included in each division are as follows:

  • Massdiscounters
    • DionWired (Has been reported that the store has closed operation in South Africa)
    • Game (operates in South Africa, Botswana, Ghana, Lesotho, Malawi, Mozambique, Namibia, Nigeria, Tanzania, Uganda, Zambia and Kenya - beginning May 2015[18])
  • Masswarehouse
    • Makro (operates in South Africa, two stores in Zimbabwe were sold in fiscal year 2011)
    • The Fruitspot (operates in South Africa)
  • Massbuild
    • Builders Warehouse (operates in South Africa, Botswana, Mozambique, and Zambia)
    • Builders Express (operates in South Africa)
    • Builders Trade Depot (operates in South Africa and Mozambique)
    • Builders Superstore (operates in South Africa)
    • Kangela (operates in Mozambique)
  • Masscash
    • CBW (operates in South Africa, Botswana, Lesotho, Mozambique, Namibia, and Eswatini)
    • Jumbo Cash and Carry (operates in South Africa and Botswana)
    • Trident (operates in Botswana)
    • Cambridge Food (operates in South Africa)
    • Shield (operates in South Africa, Botswana, Lesotho, Namibia, and Eswatini)

Major shareholders

[edit]

Below is the group's largest shareholders as at June 2026:[19]

Majority shareholders December 2016 (%) December 2022 (%) December 2025 (%)
Walmart52.4100.0100.0
Aberdeen Asset Management21.30.00.0
Public Investment Corporation5.60.00.0
Others20.70.00.0

References

[edit]
  1. ↑ "Imperial taps Massmart founder as CEO". Fin24.com. Reuters. 20 February 2014. Retrieved 7 August 2019.
  2. ↑ "South Africa - at a glance". stock.walmart.com. Archived from the original on 2 June 2021. Retrieved 1 June 2021.
  3. 1 2 3 4 5 "Massmart Annual Results 2016" (PDF). 31 December 2016. Retrieved 22 January 2018.
  4. ↑ "Overview of Massmart". Massmart.co.za. 2014. Archived from the original on 12 February 2015. Retrieved 12 February 2015.
  5. ↑ "Walmart Investor Relations - Financials Investor Relations > Financials". stock.walmart.com. Retrieved 15 November 2022.
  6. ↑ "Stores Close Across South Africa as Violent Riots Intensify". Bloomberg.com. 12 July 2021. Retrieved 23 April 2022.
  7. ↑ Smith, Nicky (29 November 2010). "Wal-Mart Offers 16.5 Billion Rand for 51% of Massmart". Bloomberg News. Retrieved 12 February 2015.
  8. 1 2 3 "South African Retailer Massmart Backs Sale To Wal-Mart". BBC News. 17 January 2011. Retrieved 12 February 2015.
  9. ↑ Anathi Madubela (17 November 2022). "Behind Massmart's JSE exit". mg.co.za. Retrieved 8 June 2026.
  10. ↑ "Walmart takes Massmart private to revive South African business". Business Tech. 29 August 2022. Retrieved 6 July 2025.
  11. ↑ Smith, Nicky (29 November 2010). "Wal-Mart Offers 16.5 Billion Rand for 51% of Massmart". Bloomberg News. Retrieved 12 February 2015.
  12. ↑ "Wal-Mart Cleared To Buy South Africa's Massmart". BBC News. 31 May 2011. Retrieved 12 February 2015.
  13. ↑ "Wal-Mart Takes on Africa With Massmart". Forbes.com. 10 June 2011. Retrieved 12 February 2015.
  14. ↑ Tiisetso Motsoeneng, and Wendell Roelf (9 March 2012). "Wal-Mart Wins Final Go-Ahead for Massmart Deal". Reuters. Retrieved 12 February 2015.
  15. ↑ Dludla, Nqobile (29 August 2022). "Walmart makes offer to buy out rest of S.African retailer Massmart". Reuters. Archived from the original on 29 August 2022. Retrieved 2 September 2024.
  16. ↑ Wexler, Alexandra (11 September 2023). "Walmart Goes All In on Africa". The Wall Street Journal. Archived from the original on 11 September 2023. Retrieved 2 September 2024.
  17. ↑ "Finalisation Announcement In Respect Of The Scheme Of Arrangement Between Massmart And Its Shareholders - Massmart Holdings Limited (JSE:MSM)". Archived from the original on 20 February 2025. Retrieved 8 June 2026.
  18. ↑ "Nairobi's Garden City Mall To Open Doors in May". Business Daily Africa (Nairobi). 12 February 2015. Retrieved 12 February 2015.
  19. ↑ "Walmart Annual Report 2026" (PDF). stock.walmart.com. Retrieved 9 June 2026.
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