SA firm expands local retail footprint

Retail stores, Hi- Fi Corp, Supreme Furnishers, Ackermans, Dunns and Shoe City and Pep stores will soon be owned by the same company
Retail stores, Hi- Fi Corp, Supreme Furnishers, Ackermans, Dunns and Shoe City and Pep stores will soon be owned by the same company

Johannesburg Stock Exchange (JSE) listed company Steinhoff International Holdings Limited is expanding its footprint in the local retail market with the acquisition of four retail outlets.

Steinhoff, which already owns Supreme Furnishers, HiFi-Corporation, Incredible Connections and Timber City in Botswana, has applied to the Competition Authority seeking the greenlight to acquire a majority stake in Pepkor Holdings. Pepkor owns Pep Stores, Ackermans, Dunns and Shoe City in Botswana.

According to a statement from the Competition Authority the proposed transaction involves Steinhoff International Holdings Limited acquiring 92.34% shares in Pepkor Holdings. “Steinhoff International Holdings Limited is a public company listed on the Johannesburg Stock Exchange (JSE).

Editor's Comment
Are police trigger-happy?

Unfortunately, that day turned sour for those who were shopping at Sefalana Cash and Carry in Gaborone West Industrial.The exchange of fire that ensued between members of the Botswana Police Service (BPS) and robbers who had allegedly robbed a G4S cash-in-transit vehicle left two civilians dead, three robbers struck down, and an undisclosed number of citizens wounded.One deceased civilian is reportedly an employee of the Citizen Entrepreneurial...

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