DLA Piper advises Shoprite on acquisition of multiple Massmart stores
DLA Piper has advised Shoprite Holdings, the South African supermarket retailer, on its acquisition of Cambridge Food, Rhino Cash and Carry, Massfresh and selected Masscash Cash and Carry assets from Massmart, a subsidiary of the world’s largest grocer, Walmart.
Shoprite Holdings is the largest supermarket retailer in Africa with more than 140,000 employees across 14 countries. Shoprite views the R1.4 billion acquisition as an ideal opportunity to utilise its operational capabilities to benefit these businesses and the Group's customers, staff, suppliers and shareholders. The effective date for the transaction is subject to the fulfilment of both regulatory and commercial suspensive conditions, which includes competition authority approval.
The DLA Piper team was led by Corporate director Peter Bradshaw, supported by Corporate team members Andre Visser (director), Rakhee Singh (senior associate), Menzi Jali (associate); Competition director, Werner Rysbergen and Employment director, Monique Jefferson.
Peter Bradshaw said: “This was a great opportunity to work with a blue chip client to implement an important step in their growth strategy. We worked closely with Shoprite against very tight timelines to help them realise their goals.”