SHOPRITE AND STEINHOFF MAY CREATE AN AFRICAN RETAIL GIANT

The South African giant Steinhoff International Holdings is hungry for acquisitions. After taking over the British discount retailer Poundland and U.S. specialty retailer Mattress Firm (the largest U.S. bedding retailer) during the summer 2016, the retailer is now negotiating with Shoprite (the largest supermarket operator in Africa, which operates stores in 15 countries) in order to create the largest African retail conglomerate by sales. The potential retail venture, named Retail Africa,...