DIAMONDS & DOGS: Steinhoff; MEDR
We find a company that proves once and for all that mining isn’t all about corporate jets and lavish head offices in London
Steinhoff bedding down acquisitions Steinhoff has had a remarkably solid year, given the jelly-like tendency of many of the economies in which it operates. It has made a number of acquisitions that have transformed the company and paved the way for its future. While some companies dip a tentative toe into the unfamiliar waters of a new market, Steinhoff’s acquisition of Mattress Firm in the US is more like a well-executed bomb from a 10m diving board. This is not a firm that believes in fiddling about.Meanwhile, in the UK, the company has bought Poundland, a discount retailer in which everything costs £1. This includes — to the alarm of certain commentators — an intimate personal massage device that may well top this year’s list of Christmas presents most likely to be smashed over the donor’s head within moments of appearing under the tree.Steinhoff has a global reach and a primary listing in Frankfurt, and yet its list of executive management looks like a Springbok team-sheet from ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.