Massmart receives approval from Competition Tribunal

Grocery retailer Massmart has received approval from the Competition Tribunal to acquire Fruitspot and Rhino Group via two of its subsidiaries. Massmart, which revealed plans to buy fresh fruit and vegetable wholesaler Fruitspot through its Makro cash-and-carry subsidiary in July 2011, was given conditional approval.

The tribunal said: “In the merger involving Massmart and Fruitspot, we require that the obligation to continue supplying Fruitspot’s existing customers should apply to Massmart rather than Fruitspot.” Fruitspot also supplies Massmart competitors, such as SPAR.