According to South African billionaire and owner of Shoprite, Christo Wiese, “there were parallels between the grocery sector in his home country of South Africa and the UK market.”
Christo Wiese estimated to be worth £4.2bn, in a discussion with The Telegraph said “The UK is extremely competitive but I can assure you it is as competitive in South Africa, if not more.” “We South Africans find it very easy to do business in the UK; it is similar, and it has the same challenges.”
The Telegraph reveals that Mr Wiese who has recently snapped up Virgin Active, the gym chain, and New Look, the high-street retailer, is now training his sights on Britain’s struggling supermarket industry.
Mr Wiese already owns a 19pc stake in Iceland, the frozen food chain, and has been linked with a potential takeover of Morrisons. He is also launching a new UK fashion chain, called Pep & Co, specialising in discount fashion and childrenswear.
Christo Wiese started Shoprite in 1979 with just eight stores in Cape Town, but the company now owns more than 2,000 supermarkets, furniture shops and food outlets in 15 countries including Nigeria, with sales in South Africa of £2.2bn.
