Content about Massmart

April 11, 2014

Grant Pattison, CEO of Massmart Holdings Ltd., a South African retailer that operates as a subsidiary of Wal-Mart, is resigning.

Sandton, South Africa – Grant Pattison, CEO of Massmart Holdings Ltd., a South African retailer that operates as a subsidiary of Wal-Mart, is resigning. Pattison, 43, will be replaced by Massmart COO Guy Hayward, 48, on June 1, as part of what the company terms a smooth succession plan.

Pattison joined Massmart in 1998 and was appointed CEO in 2007. He was CEO when Massmart sold a majority stake to Wal-Mart Stores Inc. Hayward has served with Massmart since 2000, receiving appointments as CFO in 2001 and COO in 2012.

October 16, 2013

Kenyan retailer Naivas reportedly will not sell a controlling interest in the company to Wal-Mart’s South African subsidiary Massmart.

Bentonville, Ark. – Kenyan retailer Naivas reportedly will not sell a controlling interest in the company to Wal-Mart’s South African subsidiary Massmart. According to Reuters, a Naivas executive said the retailer no longer plans to sell 50% plus one share of its stock to Massmart.

August 13, 2013

Wal-Mart’s South African subsidiary Massmart Holdings Ltd reportedly seeks a 67% ownership stake in Kenyan retail chain Naivas Supermarkets Ltd.

Bentonville, Ark. -- Wal-Mart’s South African subsidiary Massmart Holdings Ltd reportedly seeks a 67% ownership stake in Kenyan retail chain Naivas Supermarkets Ltd. According to Bloomberg, which on Monday reported Naivas was one of several possible Kenyan chains eyed by Massmart for possible expansion, serious talks with Naivas have occurred.

August 12, 2013

Wal-Mart’s South African subsidiary Massmart Holdings Ltd. is reportedly considering expanding into Kenya.

Bentonville, Ark. – Wal-Mart’s South African subsidiary Massmart Holdings Ltd. is reportedly considering expanding into Kenya. According to an article in Bloomberg, Kenyan news outlets are reporting that Massmart executives have met with representatives of major Kenyan retail chains including Naivas Supermarket Ltd.

October 24, 2011

Amid an uneven and slow recovery at home and financial volatility in established European markets, U.S. chain retailers are increasingly looking to emerging global markets to expand operations, increase overall revenues and gain a competitive advantage. The reasons are obvious: Consumer spending is on the rise in many of these areas, boosted by, in some instances for the first time ever, a growing middle class. Equally important, emerging markets present significant opportunities for store growth.

June 2, 2011

A report Thursday by the Associated Press said that Wal-Mart Stores executives met Thursday to discuss the proposed Massmart acquisition, which is expected to close in June.

Bentonville, Ark. -- A report Thursday by the Associated Press said that Wal-Mart Stores executives met Thursday to discuss the proposed Massmart acquisition, which is expected to close in June.

According to the report, as Wal-Mart expands its international business, the company wants to bring ideas it gains from the South African chain to other markets.

January 17, 2011

The shareholders of South African Massmart chain have overwhelmingly accepted Wal-Mart's offer to buy 51% of their company, the chief executive said Monday, paving the way for Wal-Mart to enter Africa.

New York City -- The shareholders of South African Massmart chain have overwhelmingly accepted Wal-Mart's offer to buy 51% of their company, the chief executive said Monday, paving the way for Wal-Mart to enter Africa.

Massmart said the proposal was approved by 97% of shareholders who voted Monday -- 75% approval had been needed. Wal-Mart offered 148 rand (about $20) per share in a 17 billion rand (about $2 billion) deal.

The deal will have to be approved by South Africa's anti-monopoly regulators.

January 4, 2011

A Tuesday report by the Financial Times said that Andy Bond, former CEO of Asda, has left his post of part-time chairman of the United Kingdom’s second biggest supermarket by market share, a position that he has held for less than a year.

London -- A Tuesday report by the Financial Times said that Andy Bond, former CEO of Asda, has left his post of part-time chairman of the United Kingdom’s second biggest supermarket by market share, a position that he has held for less than a year.

The report also said that Bond will leave Walmart as well, which owns Asda, once its $2.4 billion deal to acquire a majority stake in South Africa’s Massmart is complete around the end of March.

November 29, 2010

Bentonville, Ark. - Wal-Mart Stores announced Monday that it is buying a controlling stake in South Africa's Massmart in an approximately $2 billion deal. The investment gives the discounter a substantial presence in South Africa and paves the way for further expansion across the continent. Wal-Mart International president and CEO Doug McMillon made clear his company is pursuing a regional strategy.

Bentonville, Ark. - Wal-Mart Stores announced Monday that it is buying a controlling stake in South Africa's Massmart in an approximately $2 billion deal. The investment gives the discounter a substantial presence in South Africa and paves the way for further expansion across the continent.  Wal-Mart International president and CEO Doug McMillon made clear his company is pursuing a regional strategy.