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Founded in 1990 and listed on the JSE Limited on 4 July 2000 at R12.50 per share, the Group is currently a top 40 listed company (by turnover) and is a participant in the JSE Limited’s Socially Responsible Investment Index. Massmart employs approximately 51,000 permanent and flexi-time staff, and achieved annual sales of R93.7bn for the year ending December 2019.




1990 R1bn Massmart was founded, with Makro as the founding entity with 6 stores
1991 R1.2bn
1992 R1.5bn Acquired 378 Shield members in March
1993 R2.7bn Acquired 20 Dion stores in May
1994 R3.3bn
1995 R3.5bn
1996 R4.1bn
1997 R4.8bn
1998 R5.8bn Acquired 14 CCW stores in June
Acquired 26 Game stores in July
1999 R8.9bn
2000 R10.4bn Massmart listed on the JSE Limited in July
2001 R11.6bn Acquired 6 Jumbo stores in April
2002 R16.7bn Acquired 22 Browns and Weirs stores in July
Acquired Fumex in January
In June Wooltru unbundled its 41% shareholding in Massmart
2003 R20.4bn Acquired 8 Builders Warehouse stores in February
2004 R23.8bn SHV’s 31% shareholding in Massmart sold to local and international investors in January
2005 R25.4bn Acquired 3 De Lay Rey stores, 14 Servistar stores and 34 Federated Timber stores in June
2006 R30bn Disposal of Furnex in February
BEE general staff empowerment transaction announced
2007 R34.8bn Massmart pays first ever dividend to staff shareholders
DionWired is launched
Masscash Retail Cash and Carry format is launched
2008 R39.8bn BBBEE score increased to 49.4% making Massmart the most empowered listed retailer
2009 R43.1bn BBBEE score increased to 55.67%
Acquired 6 Cambridge Food stores in December 2008
Acquired 3 Buildrite stores in June 2009
2010 R47,5bn BBBEE score increased to 66.14%
Walmart expresses non-binding interest in acquiring equity stake in Massmart
Walmart, the world’s most successful retailer makes offer to acquire 51% share of Massmart
2011 R53bn Massmart achieves level 3 BBBEE rating and is recognised as most empowered South African retailer in FM Top Empowerment Companies Survey
South African shareholders and regulatory authorities approve Massmart and Walmart
Massmart and Walmart announce that transaction has been finalised
Massmart Thuthukani Trust pays R396 million (pre-tax) to employee shareholders
June 2012 R61,2bn Acquisition of Fruitspot on 2 January 2012
Acquisition of Rhino Cash & Carry Group on 1 March 2012
Competition Appeal Court approves Massmart-Walmart merger on 9 March 2012
Dec 2012 R65,8bn
Dec 2013 R72,3bn                  (53 weeks) Acquisition of seven Makro stores
(R70.8bn over 52 weeks)
Dec 2014 R78.2bn Acquired control of 15 key properties which had previously been leased by the Group
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