Massmart

Massmart Holdings Limited
TypeSubsidiary
IndustryRetail
Founded1980; 46 years ago (1980)
FounderMark Lamberti
Headquarters
Sandton
,
South Africa
Number of locations
318 (2026)
Area served
Africa
ProductsFood, Liquor, General merchandise, Home Improvement
BrandsMakro
Game
Builders Warehouse
CBW
Jumbo
Shield
Walmart SA
RevenueIncrease R91.56 billion (2016)
Increase R2.60 billion (2016)
Increase R1.32 billion (2016)
Total assetsIncrease R31.88 billion (2016)
Total equityIncrease R6.18 billion (2016)
Number of employees
~ 45,000 (2025)
ParentWalmart (since 2022)
SubsidiariesMasstores
Massmart Retail
Massmart Wholesale
Websitewww.massmart.co.za

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.

In 2026, Massmart operated through three distinct legal entities, and had a total of 318 stores across all of its brands. Of these, 285 (around 90%) were located in South Africa, with the remaining 33 spread across seven other African countries.

Massmart is headquartered in Sandton, Gauteng, and has been wholly owned by US retail company Walmart since 2022.

History

Massmart was founded in 1990, beginning with the acquisition of six Makro stores.

In July 2000, the company listed on the JSE Limited, South Africa's largest stock exchange.

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.

On 18 January 2011, Massmart shareholders voted in favour of Walmart's offer of R148 per share. South Africa's Competition Tribunal gave its approval of the acquisition of 51% of the firm in May 2011. Shortly thereafter, in June 2011, Walmart completed the purchase of 51% of the company's stock.

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.

In August 2022, Walmart made an offer to acquire the remaining non-controlling shares of Massmart, and by the end of November the scheme had been finalized, making Massmart a wholly owned subsidiary of Walmart. That same month, Massmart's delisting from the JSE was finalized.

Structure

A Makro store, showing the company's old branding, in Milnerton, Cape Town

As of 2026, Massmart Holdings operates through three subsidiaries – Masstores, Massmart Retail, and Massmart Wholesale. The group's operating divisions are as follows:

References

  1. ↑ "Imperial taps Massmart founder as CEO". Fin24.com. Reuters. 20 February 2014. Retrieved 7 August 2019.
  2. ↑ "Our Store and Country Footprint". Massmart. Retrieved 16 October 2026.
  3. 1 2 3 4 5 "Massmart Annual Results 2016" (PDF). 31 December 2016. Retrieved 22 January 2018.
  4. ↑ "Massmart: Keeping prices competitive with a centralized process and IT landscape". SAP. 2025. Retrieved 16 October 2026.
  5. ↑ "Overview of Massmart". Massmart.co.za. 2014. Archived from the original on 12 February 2015. Retrieved 12 February 2015.
  6. ↑ "Walmart Investor Relations - Financials Investor Relations > Financials". stock.walmart.com. Retrieved 15 November 2022.
  7. ↑ "Stores Close Across South Africa as Violent Riots Intensify". Bloomberg.com. 12 July 2021. Retrieved 23 April 2022.
  8. 1 2 Smith, Nicky (29 November 2010). "Wal-Mart Offers 16.5 Billion Rand for 51% of Massmart". Bloomberg News. Retrieved 12 February 2015.
  9. 1 2 3 "South African Retailer Massmart Backs Sale To Wal-Mart". BBC News. 17 January 2011. Retrieved 12 February 2015.
  10. ↑ Anathi Madubela (17 November 2022). "Behind Massmart's JSE exit". mg.co.za. Retrieved 8 June 2026.
  11. ↑ "Walmart takes Massmart private to revive South African business". Business Tech. 29 August 2022. Retrieved 6 July 2025.
  12. ↑ "Wal-Mart Cleared To Buy South Africa's Massmart". BBC News. 31 May 2011. Retrieved 12 February 2015.
  13. ↑ "Wal-Mart Takes on Africa With Massmart". Forbes.com. 10 June 2011. Retrieved 12 February 2015.
  14. ↑ Tiisetso Motsoeneng, and Wendell Roelf (9 March 2012). "Wal-Mart Wins Final Go-Ahead for Massmart Deal". Reuters. Retrieved 12 February 2015.
  15. ↑ Dludla, Nqobile (29 August 2022). "Walmart makes offer to buy out rest of S.African retailer Massmart". Reuters. Archived from the original on 29 August 2022. Retrieved 2 September 2024.
  16. ↑ Wexler, Alexandra (11 September 2023). "Walmart Goes All In on Africa". The Wall Street Journal. Archived from the original on 11 September 2023. Retrieved 2 September 2024.
  17. ↑ "Finalisation Announcement In Respect Of The Scheme Of Arrangement Between Massmart And Its Shareholders - Massmart Holdings Limited (JSE:MSM)". Archived from the original on 20 February 2025. Retrieved 8 June 2026.
  18. ↑ "SENS announcement" (PDF). Johannesburg Stock Exchange. 22 September 2022. Retrieved 16 October 2026.
  19. ↑ "Section 51 Manual for Massmart Holdings Proprietary Limited" (PDF). Massmart Holdings. March 2026. Retrieved 16 October 2026.