Shoprite (South Africa)
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- This article is about the South African food distributor. For other companies with the same or similar name, see ShopRite.
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Shoprite is a South African chain of supermarkets.
[edit] Overview
The Shoprite Group of Companies, Africa's largest food retailer, operates 825 corporate outlets in 18 countries across Africa, the Indian Ocean Islands and southern Asia, and reported turnover of R29,813 billion for the 53 weeks to 03 July 2005 (52 weeks ended June 2004: R26,641 billion). The Company's head quarters are situated in the Western Cape province of South Africa. Shoprite Holdings Ltd is a public company listed on the JSE Securities Exchange, with secondary listings on both the Namibian and Zambian Stock Exchanges. Its ownership therefore lies in the hands of its more than 6 000 shareholders. The Group is currently implementing a strategic expansion programme to maintain its position as the leading food retailer on the continent
The primary business of the Shoprite Group of Companies is food retailing to consumers of all income levels. Management's goal is to provide all communities in Africa with food and household items in a first-world shopping environment, at the lowest prices. At the same time the Group, inextricably linked to Africa, contributes to the nurturing of stable economies and the social upliftment of its people.
The group's purchases over the years have included companies like Checkers and OK Bazaars (which included the Hyperama, now Checkers Hyper chain). [1] [2]
In November 2006 Shoprite announced that it accepted a R13,2 billion buyout from Brait, a private equity firm, and planned to de-list from the JSE [3].
