Massmart sells sinking food unit to Shoprite Checkers for R1.3bn

The sale forms part of a turnaround plan led by Massmart CEO Mitchell Slape

Massmart, owner of Builders and Game, has sold its loss-making Rhino and Cambridge food businesses to Shoprite Checkers for R1.36bn, allowing it to divest from fresh food retail and focus on its better-performing businesses as part of a plan to return to profitability...

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