Shoprite Holdings has given an update on the sale of furniture business to Pepkor. The group signed an agreement on 2 September 2024 to dispose of the furniture business including the OK Furniture and House and Home brands to Pepkor in order to ensure the long-term sustainability of this business.
The proposed transaction was approved by all relevant authorities in the applicable non-South African territories, and a positive recommendation was made by the South African Competition Commission to the South African Competition Tribunal.
Following the South African Competition Tribunal’s granting of an application to intervene as a participant in the matter by Lewis Stores (Pty) Ltd., the proposed transaction has been delayed. Pepkor and Shoprite have noted their appeal decision with the Competition Appeal Court.
The group considers it highly probable that these operations will be disposed of and per its first half period disclosure, they remain classified as discontinued operations.
For the 12 months ended 29 June 2025, Shoprite Holdings increased sale of merchandise from continuing operations by 8.9%, measuring approximately N$252.7 billion. This growth was achieved against the group’s restated N$232.1 billion sales from continuing operations for the 12 months ended 30 June 2024.
The group’s core business, Supermarkets RSA, achieved sales growth of 9.5%, extending its unbroken market share gains to now its 5th consecutive year. As a segment it contributes 84.5% to group sales.
Checkers and Checkers Hyper, inclusive of Checkers LiquorShop, reported sales growth of 13.8%. Shoprite and Usave, inclusive of Shoprite LiquorShop, reported sales growth of 5.9%. In terms of new store openings, its core RSA operations opened 194 main banner supermarkets this year
With regards to the group’s Mozambique and Angola, the decision was taken to close Mozambique furniture and sell Angola furniture.
Its operations in Malawi and Ghana have been classified as discontinued operations. Shoprite Malawi signed a sale of assets agreement on 6 June to dispose of the assets used in relation to its operations, which consists of five trading stores. The agreement is pending the fulfilment of conditions precedent to be met during October 2025, including approval from the Competition and Fair Trading Commission as well as the Reserve Bank of Malawi.
The group received a binding offer during June to dispose of the assets and liabilities in relation to the operations in Ghana, which consists of seven trading stores and one warehouse. The sale is deemed highly probable, and the operations have therefore been classified as discontinued.
-Johannesburg Stock Exchange
