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Metcash franchise division to be sold to Shoprite
Metcash Trading Africa announced on Tuesday, 8 March 2011, that it had entered into an agreement with the Shoprite Group in terms of which the franchise division of Metcash would be sold to Shoprite.
The franchise division includes franchise arrangements with franchisees operating retail stores under registered trademark names such as Friendly, Seven Eleven and Price Club Discount Supermarket.
The sale, which is still subject to competition authority approval, will be integrated into the OK franchise division (OKFD), which currently has 273 members.
"This conforms to our strategy to rationalise our business and to focus on our core business. The transaction will also provide the group with additional resources to convert our existing Metro stores to the new and exciting hybrid stores as well as to expand the hybrid concept to other areas in SA," said Metcash CE Peter Dodson.
The store formats vary from convenience stores to supermarkets and discount supermarkets and are situated throughout the nine provinces of SA.
"The transaction will provide OKFD with a further platform to grow its business and franchisees exponentially, both in numbers and in turnover," said Shoprite deputy MD Carel Goosen.
OKFD franchises the convenience store brands OK Foods, OK Grocer, OK MiniMark, OK Value, wholesaler Megasave and the liquor store brand Enjoy in SA, Namibia and Botswana.
Source: I-Net Bridge
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