Massmart in talks to acquire on-demand grocery startup OneCart

Tay Zombulovich and Lynton Peters, OneCart cofounders

As OneCart partners with multiple retailers, its platform simulates a virtual mall and provides delivery of goods within a few hours. Customers are able to shop products across the dry grocery, frozen and fresh foods, liquor, baby, health and beauty, household and pet supplies categories, from multiple brands and retailers all available via a single shopping interface.

Officially launched to the public in 2018, the startup has since expanded its service from Gauteng to major urban hubs across the country.

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Massmart said this potential acquisition will allow Massmart to further expand its capabilities in the fast-growing on-demand delivery segment, while continuing to support the independent retailer marketplace model of OneCart.

The company is currently in the process of negotiating and finalising transaction documentation, and Massmart said it's hopeful to conclude discussions in the coming weeks "pending finalisation of a few key matters".