Metcash sells nine Franklins stores to Ritchies
Dynamic Business - Feb 7th 2012, 09:20
Metcash has reached an agreement with Ritchies for the sale of nine Franklins stores, which will be rebranded under the IGA banner
Metcash was given the green light to buy Franklins from South African retailer Pick n Pay at the end of last year, and CEO Andrew Reitzer said he’s pleased to have signed the agreement with the leading independent retailer.
“We have a very strong relationship with Ritchies who have IGA Stores in Queensland, Victoria and New South Wales. They have a great track record of running top quality supermarkets,” he said.
Reitzer said the combination of Ritchies’ IGA retailing experience and Metcash’s national buying power, supply chain and marketing and merchandising programs will see the stores become competitive “very quickly.”
Ritchies CEO Fred Harrison said the purchase was a result of the retailer’s desire to boost its footprint in New South Wales.
“At Ritchies we have a reputation as a strong independent retailer who does things, how the locals like it. We are bringing this experience and expertise to nine new areas in the New South Wales market,” he said.
The store handovers are subject to landlord consent, but Metcash and Ritchies are confident of finalising the deal in coming days.
Woolworths to launch Australian brands, Witchery and Mimco, in stores
09/12/2013 - 08:38
Following the successful introduction of Country Road and Trenery to South Africa, Woolworths will exclusively offer the iconic Australian brands Witchery and Mimco from March 2014.
Pick n Pay’s Zimbabwean partner bullish about prospects
03/12/2013 - 09:35
Harare - John Moxon, the chairman of Zimbabwe’s Meikles Africa, which runs TM Supermarkets jointly with South African grocer Pick n Pay, is bullish about future prospects in the country’s retail industry, saying the company has adopted a robust expansion plan to capitalise on the expected shift for the better in consumer spending patterns.
Double blow for Adcock suitor
03/12/2013 - 08:00
Johannesburg - A Chilean group's $1.2bn (R12.6bn) bid for drugmaker Adcock Ingram [JSE:AIP] was challenged on two fronts on Monday, as a group led by Bidvest [JSE:BVT] sought nearly a third of Adcock's shares and launched a court action against the bid.
Pick n Pay opens two premium stores as part of six month plan to open 64 stores
29/11/2013 - 10:27
After an improved performance at the half year, Pick n Pay is demonstrating its commitment to pursuing positive growth through focused, streamlined operations and an expanding store footprint, with plans to open over 60 new stores in the six months to end February 2014.
R140 million Victoria Wharf Construction at V&A Waterfront completed
28/11/2013 - 23:11
Undertaking an extensive expansion programme while minimising the impact on an estimated 24 million visitors per annum is no small feat. In a R140 million upgrade to its Victoria Wharf Shopping Centre, the V&A Waterfront has managed to not only improve its retail trade performance over the nine month construction period, but also increase the number of visitors to the Centre over the same period.