Pepkor To Acquire Shoprite’s Furniture Business

Pepkor To Acquire Shoprite’s Furniture Business. Pepkor has entered into an agreement to acquire Shoprite’s furniture business operating more than 400 stores in South Africa, Botswana, Lesotho,Namibia, Eswatini and Zambia.

Pepkor’s JD Group business has recently rebranded to Pepkor Lifestyle and operates more than 900 retail stores in South Africa, Botswana, Lesotho, Namibia and Eswatini. Over the years, it has developed leading capabilities in supply chain, logistics, and financial services, all supported by best of breed scalable integrated systems and data-driven capabilities.

Combining Shoprite Furniture with Pepkor Lifestyle will enable key synergies and efficiencies to be unlocked within the supply chain, logistics and financial services operations through leveraging improved scale. Pepkor Lifestyle will expand its customer base and retail footprint while integrating Shoprite Furniture operations into its existing logistics network. Pepkor’s management team has the expertise and capacity to successfully incorporate the Shoprite Furniture business into the group.

The Proposed Transaction will allow Pepkor to expand its value proposition through a complementary product mix in furniture, bedding, appliances and consumer electronics, while also expanding its presence in under-represented regions.

The Proposed Transaction includes the Shoprite Furniture credit loan book and related insurance cell captive arrangements as well as the OK Furniture and House & Home retail brandsin addition to inventory and certain fixed assets.