S AFRICA: Massmart in advanced talks to enter Kenya
Wal-Mart Stores owns a majority stake in Massmart, which is South Africa's third-largest general retailer
South African retailer Massmart Holdings has confirmed it is in talks to open its first store in Kenya.
Brian Leroni, a Massmart executive for corporate affairs, told just-food today (11 July) the retailer is in "an advanced stage of negotiations" with a shopping centre developer Actis to open a Game store in Nairobi, Kenya.
Wal-Mart Stores owns a majority stake in Massmart, which is South Africa's third-largest general retailer. It has around 36 stores outside of South Africa, many of those its Game discount retail stores. The stores sell general merchandise, FMCG products and non-perishable groceries.
The spokesperson did not give a timeline for the store opening in Kenya and said no further details could be provided until discussions with the developer had been concluded. However, he added: "Kenya is an attractive market, an important consideration has been to identify suitable store sites."
Massmart has so far been slow in its African expansion, a year after Wal-Mart took a 51% stake in the South African retailer.
Last year, the combined Wal-Mart-Massmart entity said it was planning "significant new store openings" and aims to increase its food business by over 50% in the next five years
From a sustainability standpoint, 2012 might be characterised as a year when the world went backwards - or at a pinch stayed still - but the food industry moved forward, writes Ben Cooper....
Wal-Mart Stores is reportedly in talks to buy Turkish retailer Migros Ticaret from UK private-equity firm BC Partners....
- M&A Watch: Raisio should sell to private equity
- Infographic: Snapshot of Japan's food sector
- On the money: Solid Lindt outpaces chocolate peers
- Spotlight: What could be impact of Russia's ban?
- Briefing: Expansion agenda of Japan's food majors
- Pork Farms buys Kerry Group's pastry plants
- Kerry cools claim spreads move could hit jobs
- Russian government eases ban on food imports
- Profits up at chocolate group Lindt
- Japan's Sanyo takes stake in Olam's food biz