SA firm expands local retail footprint

Thursday, January 15, 2015

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).

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SA firm expands local retail footprint

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.