Choppies Supermarkets South Africa has entered into binding agreements to sell 100% of its shareholding in Business Venture Investments No. 2243 as well as the assets of the meat processing factory to the Shingai Itai Consortium, led by Shingai Retail Investments.

Business Venture Investments operates a chain of 45 Jwayelani-branded discount supermarkets in South Africa, with a network of community-based grocery stores. The transaction represents the full divestment of Choppies' interest in the company, transferring ownership and operational control to the Shingai Itai Consortium.

Under the terms of the agreements, Choppies will dispose its entire shareholding in Business Venture Investments to the Shingai Itai Consortium. In addition, the Shingai Itai Consortium will acquire the assets of the meat processing factory, which is vital to the integrated offering of Jwayelani. Completion of the transaction is subject to customary suspensive conditions including Competition Authority approval.

Philisiwe Sibiya, CEO of Shingai, expressed her excitement about the acquisition.

"We're thrilled to acquire the Jwayelani business and build on its strong community heritage as the go-to neighborhood discount store. The Jwayelani brand has a loyal customer base and stores in high foot traffic areas. This acquisition is close to my heart - I want to bring Jwayelani back to its roots and reconnect with its customer base."

She added: "As a new black-owned retailer, our strategy goes beyond being just a value retailer. We want to create a food platform that empowers black-owned producers, farmers and suppliers by giving them direct access to consumers. We've assembled an experienced management team to help transform Jwayelani into one of South Africa's leading value grocery retailers."

According to the Shoprite Group, which supported the transaction: "We're proud to have facilitated this deal and confident that Philisiwe and her team will use the Jwayelani platform to build a sustainable retail business."

The transaction is expected to be finalised following the fulfillment of all regulatory and commercial conditions, with closing anticipated before the end of November 2025.