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Spar of South Africa sells Swiss unit to focus on home market
10:14 CAT | 09 Sep 2025
FILE - South African grocers are facing increased local competition. [File photo: Moneyweb]
Spar Group agreed to sell its Swiss unit for R1.02 billion ($59 million) as South Africa’s second-largest retailer by revenue hones its focus at home.
The sale to Tannenwald Holding AG helps Spar significantly reduce debt, with the purchaser assuming all the obligations of the Swiss unit, the Durban-based company said in a statement Tuesday. Spar is also preparing to sell its UK business.
South African grocers are facing increased local competition, with most tapping into parts of the country that have yet to rely on formal retailers.
As the jostle for South African consumers increases, Spar has also joined other local retailers in expanding their online offering. Larger rival Shoprite Holdings last week reported online grocery growth of 48% to R18.9 billion ($1.1 billion) with its Sixty60 one-hour grocery delivery app, which is now offered at 694 outlets.
Spar has dropped 28% in Johannesburg this year, the worst performer on the seven-member FTSE/JSE Personal Care, Drug and Grocery Stores Index.
Source: Bloomberg
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