Massmart
Encyclopedia
Massmart is a South Africa
n firm that owns local brands such as Game, Makro
, Builders’ Warehouse and CBW. It is the third largest distributor of consumer goods in Africa, the largest retailer of general merchandise, liquor and home improvement equipment and wholesaler of basic foods. It currently operates 288 stores in 14 sub-Saharan countries. Its head office is in the Massmart House in Sandton, City of Johannesburg Metropolitan Municipality
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stores. It listed on the JSE Limited on 4 July 2000 at R12.50 per share.
The Congress of South African Trade Unions
(COSATU), South Africa’s largest union group, has threatened to stage “the mother of all boycotts” of Massmart products and a strike at all of its stores in the event that Walmart takes over.
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
n firm that owns local brands such as Game, Makro
Makro
Makro is a Dutch chain of Warehouse clubs, also called cash and carries. The first one opened in 1968 in Amsterdam. In the following years more stores opened in the Netherlands and in several other countries within Europe. In the 1970s and 1980s Makro extended its business to the Americas and...
, Builders’ Warehouse and CBW. It is the third largest distributor of consumer goods in Africa, the largest retailer of general merchandise, liquor and home improvement equipment and wholesaler of basic foods. It currently operates 288 stores in 14 sub-Saharan countries. Its head office is in the Massmart House in Sandton, City of Johannesburg Metropolitan Municipality
City of Johannesburg Metropolitan Municipality
The City of Johannesburg Metropolitan Municipality is a metropolitan municipality that manages the local governance of Johannesburg, South Africa...
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History
Massmart was founded in 1990, beginning with the establishment of six MakroMakro
Makro is a Dutch chain of Warehouse clubs, also called cash and carries. The first one opened in 1968 in Amsterdam. In the following years more stores opened in the Netherlands and in several other countries within Europe. In the 1970s and 1980s Makro extended its business to the Americas and...
stores. It listed on the JSE Limited on 4 July 2000 at R12.50 per share.
Walmart acquisition
The firm was recently offered a takeover bid by Walmart On January 18 2011, shareholders of Massmart voted in favour of Walmarts offer of R148 per share. The South African Competition Commission Tribunal gave its approval of the acquisition of 51% of the firm in May 2011. Shortly thereafter, in June of 2011, Walmart completed the purchase of 51% of the company's stock.The Congress of South African Trade Unions
Congress of South African Trade Unions
The Congress of South African Trade Unions is a trade union federation in South Africa. It was founded in 1985 and is the biggest of the country’s three main trade union federations, with 21 affiliated trade unions, altogether organising 1.8 million workers.-Establishment:COSATU was established in...
(COSATU), South Africa’s largest union group, has threatened to stage “the mother of all boycotts” of Massmart products and a strike at all of its stores in the event that Walmart takes over.