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Johannesburg - Massmart Holdings [JSE:MSM] has bought control of a Namibia-based building supply chain, Pupkewitz Megabuild, in an effort to bolster its sub-Saharan expansion strategy. The transaction is pending approval by the Namibian competition authorities.
If approved, the deal will see Massmart add a chain of 16 hardware stores operating in Namibia since 1946 to its portfolio. Massmart's retail brands include Builders Warehouse, Builders Express, Game and Makro.
Brian Leroni, Massmart executive for corporate affairs, said the deal was the first venture beyond South African borders by the group's Massbuild division. The division also houses Massmart's DIY, home improvement and builders' hardware division including the Builders Warehouse, Builders Express and Builders Trade Deport brands.
"We are still awaiting approval from the Namibian competition board. There is no specific indication as to when such approval will be granted," said Leroni.
Pupkewitz Megubuild's largest store in Windhoek is a 5 000m² (excluding the yard) property, while its smallest store of 600m² (excluding the yard) is located in Oranjemund. The company also owns a roofing truss plant in Windhoek. It employs 630 full-time employees.
"Massbuild intends, at least for the foreseeable future, to continue with the Pupkewitz Megabuild brand name," said Leroni.
Like food group Shoprite Holdings [JSE:SHP], Massmart has a significant number of stores, mainly Game, in neighboring countries as well as in Nigeria and Ghana.
- Fin24.com
If approved, the deal will see Massmart add a chain of 16 hardware stores operating in Namibia since 1946 to its portfolio. Massmart's retail brands include Builders Warehouse, Builders Express, Game and Makro.
Brian Leroni, Massmart executive for corporate affairs, said the deal was the first venture beyond South African borders by the group's Massbuild division. The division also houses Massmart's DIY, home improvement and builders' hardware division including the Builders Warehouse, Builders Express and Builders Trade Deport brands.
"We are still awaiting approval from the Namibian competition board. There is no specific indication as to when such approval will be granted," said Leroni.
Pupkewitz Megubuild's largest store in Windhoek is a 5 000m² (excluding the yard) property, while its smallest store of 600m² (excluding the yard) is located in Oranjemund. The company also owns a roofing truss plant in Windhoek. It employs 630 full-time employees.
"Massbuild intends, at least for the foreseeable future, to continue with the Pupkewitz Megabuild brand name," said Leroni.
Like food group Shoprite Holdings [JSE:SHP], Massmart has a significant number of stores, mainly Game, in neighboring countries as well as in Nigeria and Ghana.
- Fin24.com
