Steinhoff Africa exercises its call to acquire majority vote at Shoprite

SOUTH AFRICA - Africa's biggest food retailer, Shoprite, on Friday confirmed that Steinhoff Africa Retail (Star) had exercised the call options to acquire a 23.1percent economic stake in and a 50.6percent voting control of the company. “The implementation of the investment by Star in Shoprite Holdings is subject to a number of conditions precedent, including…

Shoprite prepares Kenya entry to fill gaps left by Nakumatt

KENYA - Shoprite Holdings Ltd. is in talks to open its first stores in Kenya by filling retail space left empty by the struggling Nakumatt Holdings Ltd. chain. “We are currently in talks with some of the property owners, but nothing has been signed,” Shoprite director Gerhard Fritz said in an emailed response to questions. Africa’s…

Tru-Cape delivers over 20 million cartons to Shoprite Group

SOUTH AFRICA - The Shoprite Group has purchased over 20 million cartons of apples and pears from Tru-Cape Fruit Marketing for its 2,689 Shoprite and Checkers outlets in 15 African countries and the Indian Ocean Islands. In 2010 Tru-Cape marked the delivery of its 10,000,000th carton of fruit to The Shoprite Group’s fruit and vegetable…

Consumers hit malls less frequently, but spend more per visit – report

SOUTH AFRICA - Consumers are visiting malls less frequently, but spend more per visit. This is one of the retail trends identified in the latest Retail Trends Report by the SA Property Owners Association (Sapoa) for the second quarter of 2017, released on Wednesday. In what the report calls “the intense battle for market share…