Company: Massmart
Country: South Africa
Sector: Retail
CEO: Not publicly listed
Website: https://www.massmart.co.za
Careers Page: Not publicly listed
LinkedIn: Not publicly listed
Email: Not publicly listed
Headquarters: Sunninghill, Johannesburg, South Africa
Founded: 1990
Valuation/Revenue: $5.92bn revenue (African Business Top 250, FY2025 data); no market cap available — Massmart has been a wholly owned, unlisted subsidiary of Walmart since November 2022
Massmart is a major South African retail group operating well-known chains including Game, Makro, Builders Warehouse and CBW (Cambridge Food/Rhino Cash & Carry), and is described as the second-largest distributor of consumer goods in Africa. Although historically listed on the Johannesburg Stock Exchange, Massmart has been a wholly owned subsidiary of US retail giant Walmart since late 2022, a material change in status that is important for anyone researching the company today.
What Does Massmart Do?
Massmart operates several distinct retail formats under one corporate umbrella: Game, a general merchandise discount retailer; Makro, a large-format wholesale and warehouse club chain; Builders Warehouse, Builders Express and Builders Trade Depot, home improvement and building materials retailers; and CBW, encompassing Cambridge Food supermarkets and Rhino Cash & Carry wholesale outlets. Across these brands, the group operated more than 400 stores across roughly 13 Sub-Saharan African countries as of the most recent publicly available store count.
Is Massmart Still an Active Company?
Yes, Massmart continues to operate and trade actively under all of its well-known store brands, but its corporate structure has changed significantly: it is no longer a separately listed public company. Walmart, which first acquired a controlling stake in Massmart in 2011, completed a full buyout of the group’s remaining publicly held shares in November 2022, taking it private and delisting it from the JSE, where it had traded since July 2000. Anyone researching Massmart’s “stock price” or “market cap” today will not find current figures, because none exist — the business now reports as part of Walmart International’s broader financial disclosures rather than as an independent JSE issuer.
How Big Is Massmart?
African Business magazine’s Top 250 Companies in Africa dataset placed Massmart’s revenue at approximately $5.92 billion, reflecting its continued scale as one of the largest retail and wholesale distribution operators on the continent, even though it no longer discloses standalone financials as a listed entity in the way it once did (historical public filings show revenue of roughly R91.6 billion as of 2016, the most recent year for which detailed public segment data is readily available from that era).
Who Owns Massmart?
Massmart is wholly owned by Walmart Inc., the US-based global retail giant. Walmart first acquired a 51% controlling stake in Massmart in 2011 for roughly R16.5 billion and steadily increased its holding over the following decade before buying out all remaining minority shareholders in a scheme of arrangement finalised in November 2022, at which point Massmart became a fully owned Walmart subsidiary.
What Has Massmart Been in the News For Recently?
The defining recent event in Massmart’s corporate history is its 2022 delisting and full absorption into Walmart’s ownership structure, which ended more than two decades as an independently listed South African retailer. Since then, coverage of Massmart has focused mainly on individual brand performance (particularly Builders Warehouse and Game), store network optimisation, and its integration within Walmart’s broader African and international retail strategy, rather than on quarterly earnings releases of the kind it once published as a public company.
How Does Massmart Compare to Its Competitors?
Across its various formats, Massmart competes with Shoprite Checkers and Pick n Pay in general merchandise and grocery retail, with Cashbuild and Italtile-owned brands in home improvement, and with various regional wholesalers in cash-and-carry distribution. Its Makro warehouse format has few direct scale peers in South Africa, giving it a relatively strong competitive position in that specific niche.
Where Is Massmart Headquartered?
Massmart’s head office, known as Massmart House, is located in Sunninghill, Johannesburg, South Africa.
Links
Website: https://www.massmart.co.za
Careers Page: Not found (recruitment is handled per operating brand — Game, Makro, Builders)
LinkedIn: Not found
Email: Not publicly listed
FAQ
Is Massmart still a public company? No. It was delisted from the JSE in November 2022 after Walmart completed a full buyout of minority shareholders; it now operates as a wholly owned Walmart subsidiary.
Who owns Massmart? Walmart Inc., which first took a controlling stake in 2011 and acquired full ownership in 2022.
What brands does Massmart operate? Game, Makro, Builders Warehouse, Builders Express, Builders Trade Depot, Cambridge Food and Rhino Cash & Carry.
How much revenue does Massmart generate? Approximately $5.92 billion per African Business’s 2025 Top 250 ranking.
Is Massmart still operating in 2026? Yes, all of its major store brands continue to trade actively across South Africa and neighbouring countries.
Where is Massmart headquartered? Sunninghill, Johannesburg, South Africa.