Massmart in Talks to Buy Controlling Stake in OneCart

Massmart, a unit of Walmart, is in talks which may result in the acquisition of a controlling stake in OneCart, a fast moving consumer goods market place and logistics platform that partners with retailers in South Africa to enable online sales and home delivery to consumers.

• OneCart provides access to products across the dry grocery, frozen and fresh foods, liquor, baby, health and beauty, household and pet supplies categories
• Massmart is in the process of negotiating and finalizing transaction documentation; negotiations are at an advanced stage and Massmart is hopeful it will conclude discussions in the coming weeks

Source: Bloomberg