Wal-Mart seals deal for African retail company
Home Accents Today Staff -- Home Accents Today, June 20, 2011
Bentonville, Ark. - Wal-Mart Stores Inc. has finalized its 51% stake in Massmart Holdings Limited, which operates 288 stores in 13 sub-Saharan African countries under a variety of nameplates.
Massmart's wholesale and retail businesses include Makro, Game, Dion Wired, Builders Warehouse, Builders Express, Builders Trade Depot, CBW, Jumbo Cash and Carry and the Shield buying group.
Walmart Interantional president and ceo Doug McMillion said Wal-Mart Stores will support local suppliers, adding: "We have a global track record of working directly with small farmers, boosting their income and helping them become more sustainable, and we look forward to bringing those practices to South Africa."