South Africa’s Spar Plans Acquisitions to Boost Market Share
- Retailer sees South Africa accounting for 70% of revenue
- Spar plans to expand into pet stores, two other segments
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Spar Group Ltd. is planning to acquire smaller retailers to help South Africa’s second-largest grocer by revenue expand beyond the food segment and win market share in a struggling economy.
The company, which is selling its loss-making Polish unit, wants to increase South Africa’s contribution to its revenue to 70% in five years from 60%, Chief Executive Officer Angelo Swartz said. Spar, which also owns a chain of building materials stores, plans to expand into pet shops and two other categories, he said.