Massmart - Massbuild
Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1940/014066/06)
JSE code: MSM
ISIN ZAE000029534
(`Massmart`)
MASSBUILD
Further to our SENS announcement of the 12th May 2005, and the subsequent
approval of Massmart`s acquisition of Federated Timbers, Servistar and De la
Rey, by the Competition Commission on the 8th June 2005, we advise as follows:
From the 1st July 2005, Builders Warehouse and Tile Warehouse, together with the
above acquisitions will comprise a new division of Massmart named Massbuild. On
its inception, Massbuild will be South Africa`s largest and most profitable
distributor of DIY and home improvement products, generating sales approaching
R4bn in the year to June 2006, with a national footprint that will provide a
sound platform for the implementation of location, brand and product strategies
aimed at achieving consumer preference in the product category.
Following a successful 24 year career with Makro - 12 as the Chief Executive -
Mr Joe (Gareth) Owens (56) will be appointed Chief Executive of the new
Massbuild division with Norman Kretzmer (Managing Director Builders Warehouse),
Trevor Hartin (Managing Director Federated Timbers), Robbie Best (Managing
Director De la Rey), John Keil (Managing Director Servistar) and Chris Crossman
(Managing Director Tile Warehouse) reporting directly to him.
The Board of Massbuild will comprise the above gentlemen, Grant Pattison, Guy
Hayward, and Aubrey Cimring and will be chaired by the Group Deputy Chairman and
Chief Executive Mark Lamberti.
From 1st July Massmart will therefore comprise four divisions constituted as
follows:
- Massdiscounters - Game and Dion
- Massbuild - Builders Warehouse, Federated Timbers, Servistar, De la Rey and
Tile Warehouse
- Masswarehouse - Makro
- Masscash - CBW, Jumbo, Shield, Furnex and Cellshack
We believe these structural changes facilitate improved strategic and operating
focus and provide greater clarity for shareholders in respect of the varying
characteristics of the product markets and business models within Massmart`s
ambit.
Johannesburg
21 June 2005
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 21/06/2005 12:12:48 PM
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