Massmart
South African retail company
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Massmart, officially Massmart Holdings Limited, is a South African retail company that owns and operates multiple major local chains, including Game, Makro, Builders Warehouse, and CBW. Massmart is the second-largest distributor of consumer goods in Africa, the largest retailer of general merchandise, liquor and home improvement equipment and wholesaler of basic foods.[4]
| |
| Type | Private Subsidiary |
|---|---|
| JSE: MSM | |
| Industry | Retail |
| Founded | 1990 |
| Founder | Mark Lamberti[1] |
| Headquarters | , |
Number of locations | 411 (2022)[2] |
Area served | Sub-Saharan Africa |
| Products | Food, Liquor, General merchandise, Home Improvement |
| Revenue |  R91.56 billion (2016)[3] |
| R2.60 billion (2016)[3] | |
| R1.32 billion (2016)[3] | |
| Total assets | R31.88 billion (2016)[3] |
| Total equity | R6.18 billion (2016)[3] |
Number of employees | 45,000+ (2015) |
| Parent | Walmart (Since 2011) |
| Divisions | Massdiscounters Masswarehouse Masscash Massmart |
| Subsidiaries | Makro Game Builders Warehouse CBW |
| Website | www |
As of 31 October 2022, Massmart operated 411 stores in South Africa and 12 other Sub-Saharan countries.[5] The company is headquartered in Sandton, Gauteng,[6] and has been owned by US retail company Walmart since 2011.[7][8]
History
Massmart was founded in 1990, beginning with the acquisition of six Makro stores.[9] It was listed on the JSE Limited on 4 July 2000 at R12.50 per share until it was taken private by Walmart in 2022.[10]
In November 2010, US retail company Walmart made a bid to acquire a majority shareholding (51%) in Massmart. At the time, the offer was valued at approximately R17 billion.[11][8] On 18 January 2011, Massmart shareholders voted in favour of Walmart's offer of R148 per share.[8] South Africa's Competition Tribunal gave its approval of the acquisition of 51% of the firm in May 2011.[12] Shortly thereafter, in June 2011, Walmart completed the purchase of 51% of the company's stock.[13]
In 2011, the South African Government, through the Department of Economic Development, and the Department of Trade and Industry, lodged an appeal to the decision of the Competition Tribunal's decision to allow the merger with minimal conditions. This followed a similar, earlier appeal filed by local labor union SACCAWU.
In March 2012, the appeals court dismissed the case by the governmental ministries, but acknowledged that there were legitimate concerns about the effect of the deal on small producers and employment. The appeals court decision effectively put an end to the legal challenges to the merger.[14]
In August 2022, Walmart made an offer to acquire the remaining non-controlling shares of Massmart,[15] and by the end of November the scheme had been finalised and closed, making Massmart a wholly owned subsidiary of Walmart.[16][17]
Divisions
Massmart's stores are organised into 4 divisions. The stores included in each division are as follows:
- Massdiscounters
- DionWired (Has been reported that the store has closed operation in South Africa)
- Game (operates in South Africa, Botswana, Ghana, Lesotho, Malawi, Mozambique, Namibia, Nigeria, Tanzania, Uganda, Zambia and Kenya - beginning May 2015[18])
- Masswarehouse
- Makro (operates in South Africa, two stores in Zimbabwe were sold in fiscal year 2011)
- The Fruitspot (operates in South Africa)
- Massbuild
- Builders Warehouse (operates in South Africa, Botswana, Mozambique, and Zambia)
- Builders Express (operates in South Africa)
- Builders Trade Depot (operates in South Africa and Mozambique)
- Builders Superstore (operates in South Africa)
- Kangela (operates in Mozambique)
- Masscash
- CBW (operates in South Africa, Botswana, Lesotho, Mozambique, Namibia, and Eswatini)
- Jumbo Cash and Carry (operates in South Africa and Botswana)
- Trident (operates in Botswana)
- Cambridge Food (operates in South Africa)
- Shield (operates in South Africa, Botswana, Lesotho, Namibia, and Eswatini)
Major shareholders
Below is the group's largest shareholders as at June 2026:[19]
| Majority shareholders | December 2016 (%) | December 2022 (%) | December 2025 (%) |
|---|---|---|---|
| Walmart | 52.4 | 100.0 | 100.0 |
| Aberdeen Asset Management | 21.3 | 0.0 | 0.0 |
| Public Investment Corporation | 5.6 | 0.0 | 0.0 |
| Others | 20.7 | 0.0 | 0.0 |