Shoprite to acquire the Cambridge Food, Rhino and Massfresh assets and selected Masscash Cash and Carry assets of Massmart for $104m.

Shoprite, a supermarket retailer, agreed to acquire the Cambridge Food, Rhino and Massfresh assets and selected Masscash Cash and Carry assets of Massmart, a retail and wholesale group, for $104m. "The sale marks another step in the group’s portfolio optimisation process and will, amongst other benefits, free up management time to enable increased focus on leveraging Massmart’s core merchandise and market strengths," Mitch Slape, Massmart Group CEO.