Wiese sees Shoprite as a natural match for Steinhoff
IT WOULD be a "natural development" for international retail group Steinhoff to take over Shoprite, Africa’s biggest supermarket chain, according to retail tycoon Christo Wiese.Wiese is the largest shareholder in budget store Shoprite as well as lower-end furniture, apparel and household goods retailer Steinhoff. Bringing the two together would allow him to add groceries to his sprawling discount empire.The merger, if it happens, would pull together Wiese’s retail assets under one roof following Steinhoff’s about $6bn acquisition in 2014 of the magnate’s budget clothing retailer Pepkor. It would also create a global retail giant worth at least R400bn."People will speculate about that," he told Reuters in a rare interview on Tuesday at his modest offices overlooking factories in the northern Cape Town industrial suburb of Parow."People know that I am 75 years old, and I fortunately have a son who is in business with me, but as a family, we are continually looking at consolidating our...
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