Zimbabwean newspaper, Bulawayo24News, reported that Choppies has filed an application with the South African Competition Commission but did not disclose any further information.
According to the newspaper, Choppies Group marketing manager Otsile Marole confirmed the planned acquisition to the Botswana Stock Exchange, noting that it was part of the strategy to expand their regional footprint.
“I can confirm that we’ve acquired Jwayelani stores in KwaZulu-Natal and the Eastern Cape,” she reportedly said.
The acquisition will add to the 39 stores that Choppies operates in South Africa, which are located in Mpumalanga, Limpopo, Free State and North West provinces.
The transaction is in line with Choppies’ strategy of expanding into new markets in Sub-Saharan Africa and plans to operate more than 200 stores across six countries by December 2016.
According to Deloitte’s African Powers of Retailing 2015 report, Choppies was the fastest growing retailer of the top 25 African retailers of 2015, recording 24.4 percent year-on-year growth for fiscal year 2013 over 2012.
Source: African News Agency (ANA)
