13 December 2021
The Shoprite Group has entered into a joint venture with its existing Checkers Sixty60 logistics partner, the RTT Group in which both parties will own 50%. The transaction follows on from the rapid growth of Shoprite’s pioneering on-demand grocery solution Checkers Sixty60 in which RTT On-Demand, a division of the RTT Group, has played a pivotal role in last-mile logistics.
Going forward, the joint venture will advance the technology, learnings and intellectual property created to date as well as enable continued development in the digital and customer experience in line with Shoprite’s ecommerce plans.
The transaction, which envisages Shoprite Checkers holding a 50% interest for an undisclosed sum, is subject to the fulfilment of both commercial and regulatory conditions and includes RTT’s On-Demand technology platform, management and operations teams.
“This transaction is in line with our digital strategy. Owning the last mile home delivery aspect of our Sixty60 service is an important part of building out our digital ecosystem for customers. We consider the combined capability we have built with RTT to be a critical competitive advantage and key to Sixty60’s rapid growth. This RTT On-Demand joint venture will allow the Group the opportunity to continue enhancing our order fulfilment and last-mile delivery capabilities whilst giving us the opportunity to grow our precision retailing efforts for our customers.”
- Shoprite Group CEO, Pieter Engelbrecht