Tue Nov 19 12:26:00 UTC 2002
The largest food retailer in Africa, the Shoprite Group, has acquired the Champion supermarket Group in Madagascar. Under the agreement reached Shoprite took control of the five Champion supermarkets and one distribution centre on Monday, 28 October 2002.
In announcing the acquisition Shoprite said the retail investment is in line with the group’s regional expansion programme and it looks forward to trade in Madagascar
Shoprite, one of the most admired brands in South Africa, said that it will trade under the Shoprite name in the four acquired Champion supermarkets in Antananarivo and the one in Tamatave.
“The Group looks forward to offering the previous Champion staff a secure working environment while offering consumers consistently the lowest prices on a wide range of quality goods,” a spokesperson said.