Knowledge (XXG)

Whitey Basson

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And I looked at the people round the table and I said 'You know guys we're losing 45 million rands a year. This lunch is in conflict with what I think we should be making and where we should be going.' And I said, 'Did you guys hear of the last supper? Well this is the last lunch', and we didn't have a lunch there again."
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Basson said, "I walked through his fridges one day and I saw, but some of the fridges are switched off. They only stocked Coke and some of Gerald's cooldrinks, which didn't need cooling. So I phoned him and said, 'Carlos, I see you're a bit short of money. Can't we talk about your Grand Bazaars?' And
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In 1979 Basson wanted to move to trading fast-moving consumer goods and he reached an agreement with the board of Pep Stores which allowed him to either actively identify opportunities for acquisition of a food retailer or to start a new venture in food retailing. He found a small eight-store grocery
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When asked in an interview with Bruce Whitfield about the origin of his nickname, "Whitey", Basson said that his given names, James Wellwood, "came from a Scottish gentleman who didn't have any children and my father decided to name me after him... and it didn't go well in Porterville, so they had to
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One of the competitors to Pep in South Africa was the Half Price Group, managed by Sam Stupple. Stupple was in regular contact with Basson regarding the sales figures of the Pep stores and Basson realised that his sales figures were being leaked to Stupple. In retaliation Basson thought: "I'll catch
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On 5 May 2017, Shoprite announced that Basson was selling 8,58 million Shoprite shares with a value of R1,8 billion rands which the company was obliged to purchase in terms of an employment agreement completed in 2003. This figure represented less than 2% of the value of Shoprite. "I have
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Checkers "had different cultural sort of backgrounds too," said Basson. "And when I got to Checkers it was fantastic, because they said that about 1 o'clock I have to have lunch in this beautiful dining room with waiters with white gloves. It was very nice... different three courses and everything.
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Basson returned OK Bazaars to profitability by focusing store brands in particular areas and markets: 'OK Bazaars' were turned into OK franchises; 'OK Furniture' and 'House and Home' were consolidated into 'OK Furniture'; 'Hyperama' stores became 'Checkers Hyper' and more than 150 food stores were
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from an 8-store chain valued at R1 million into an international retail conglomerate with revenue in 2019 of R150 billion, market capitalisation of R114 billion, more than 2 300 stores and 140 000 employees across 15 African countries. Deloitte's Global Powers of Retailing
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During 2001, Basson devised a strategy to reposition the Checker's brand as close as possible to its higher LSM major rival, Pick n Pay. The Shoprite stores would then be focussed on the middle LSM's and a new chain called USave was created to focus on the lowest LSM's. USave had a cost structure
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The addition of Checkers brought the Shoprite Checkers Group to 241 stores with enough clout to compete for better rates in the modern shopping centres that were being developed in South Africa at that time. "In fact, a lot of the landlords didn't want us in the supermarkets," Basson said. "The
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Basson retired as the managing director and Chief Executive of Shoprite Holdings Ltd on 31 December 2016. Following his retirement, Basson served for nine months on the Shoprite Holdings board as non-executive vice-chairman to ensure an orderly leadership transition. He was succeeded by Pieter
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By 1981, Pep had grown to 500 stores, 10 factories, 12 000 employees and a turnover of close to R300 million. At this point Christo Wiese bought out van Rooyen's holdings in Pepkor and became the major shareholder. Wiese became the chairman of Pepkor. In 2014 Wiese sold Pepkor to
233:. Basson agreed to join the company as financial director and in 1974 became head of operations. "At the tender age of 28 I should become the business director, or whatever we called it in those days," Basson said. In 1974 he was appointed to the board and remained a member until 2004. 385:
market and approached Checkers on two occasions. On the first occasion the owners of Checkers "held unrealistic perceptions of the value of unfocussed and inefficient retail stores," according to Basson. "It was never a bad business. It was badly focussed as it could have been."
324:(whose father had started Ackermans) were rivals and crossed paths for decades. Basson bought the food business at Ackermans food stores in the 1980s. Ackerman had run Checkers and had "so famously got fired from" it and had then gone and started 418:"They are not the easiest people to deal with," says Stephan le Roux of property management company Growthpoint. "They are hard negotiators. I like working with this client. There are arguments along the way, but they play open cards." 170:
in Cape Town, where he matriculated in 1963. Basson first considered studying medicine. "I wanted to become a medical student, but my mother said I was afraid of blood, so I didn't." Basson said, "I actually got admitted to
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was the R1 million paid for the original eight stores and any accumulated profits. In 2019 Shoprite had secondary listings on the Namibian stock exchange (since 2002) and Zambian stock exchange (since 2003).
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him and I sent out a circular that we get into food and then he started applying for food licences!" This led the Half Price Group into financial trouble and Basson bought them out as his first major acquisition.
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On shopping malls: "The problem with retail is that the world it operates in is changing and leads to fewer square metres being needed for retail. I think the shopping centres that focus on entertainment will do
269:, still owned by the founding Geller and Rogut families, which he then acquired. "Barney Rogut was also fantastic to teach me food and he then taught me how to run a supermarket," said Basson. 667:
On developing a business in Africa: "The sluggish pace of property development in Africa and the lack of suitable anchor tenant sites can create significant hurdles to any expansion plans."
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On delivery: "Food retailers will be safe for now, in my view, because of the complexity of delivery. But everything delivered from a warehouse will be under threat because of technology."
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In 2019 Shoprite had revenue of R150 billion, market capitalisation of R114 billion, more than 2 300 stores and 140 000 employees across 15 African countries.
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find a shorter name. So I think they kept a 'W' for 'Whitey'... I had, those days blond hair not white hair, but they didn't know the difference at that stage in Porterville."
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of OK Bazaars being much larger than that of Shoprite. The deal gave Shoprite 139 'OK' stores, 18 'Hyperamas' and 21 'House & Homes' and saved 14 000 jobs.
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Basson restructured Shoprite to optimise its growth by focusing on the largest economically active segment of South Africa's population, the middle-to-lower
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Basson lives with his family on Klein DasBosch wine estate on the banks of the Blaauwklippen River in the Western Cape. In 2004 he participated in the
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he says come and see me in Jo'burg. So we did a handshake deal and that was it. I'm not sure, but I think we paid slightly less than what he paid."
1302: 1441: 1426: 1276: 298:'s Global Powers of Retailing 2019 survey (covering the 2017 financial year) ranked The Shoprite Group as the 86th largest retailer in the world. 617: 1451: 1011: 727: 1172: 336:
In 1990 Basson approached Carlos Dos Santos and bought Grand Bazaars at what was considered an even better price than the original deal.
1436: 355: 194:). Whilst studying at Stellenbosch he stayed in the Wilgenhof Men's Residence. He then went to work at Brink, Roos & Du Toit (now 137:(born 8 January 1946) is a South African businessman and billionaire who was largely responsible for growing a small business called 1250: 753: 1198: 627:
Basson remains active in other business activities. In 2017 he was appointed as one of the independent, non-executive directors of
1224: 651:... but I also believe we need to teach our children how to be entrepreneurs and create more jobs from a young age", Basson said. 291:
Under Basson's leadership, from 2010 Shoprite had become the single biggest South African grocery retailer with 34% market share.
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Basson's salary for 2016 was R100,1 million including a R50 million bonus. This was the subject of a protest action by
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landlords started taking us seriously at the stage when we bought Checkers, because they didn't have too many options left."
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However, Checkers was falling into financial difficulties. It had 169 stores and was making losses that equalled Shoprite's
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There was some criticism by financial analysts of the continued trading under two brand names but Basson saw it as
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On the second occasion a deal was struck, with the aid of Basson's personal relationship with the chairman of
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Basson dreamt of expanding Shoprite across the African continent. In 1995, the first Shoprite was opened in
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provinces but was still considered too small to be competition to South Africa's major supermarket chains,
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Basson retired as the managing director and Chief Executive of Shoprite Holdings Ltd on 31 December 2016.
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no ambition to buy a big yacht or have a second wife or move the money out of the country," Basson said.
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in 1927 but by 1997 the fortunes of OK Bazaars had waned to such an extent that the sole shareholder,
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2016 - Pioneer Award "for contribution to the industry" from the SA Council of Shopping Centres
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to schools for them to use in fundraising events. "We need to create jobs in South Africa
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market. Acquisitions and turnarounds of struggling companies also became a priority.
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In 1971 Basson was approached by Renier van Rooyen, who was married to a cousin of
923:"Life of Pep Stores founder Renier van Rooyen was a classic rags-to-riches story" 485:
This repositioning resulted in the Shoprite Checkers Group growing to almost 30%
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SHARENET - Your Key To Investing on The JSE Securities Exchange - South Africa
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and more than 16 000 jobs were at stake. Shoprite came to dominate the
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He went to school in Porterville and completed his secondary schooling at
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2019 ranked The Shoprite Group as the 86th largest retailer in the world.
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Basson was born on 8 January 1946 on the family farm Dasbosch in the
1303:"Shoprite shareholders to vote on Whitey Basson's R1.7bn share sale" 1277:"I'm not fleeing SA, says Whitey about selling off R1.8bn in shares" 1173:"Whitey Basson: What retirement? Wiese still calls me all the time…" 891:
Meet Whitey Basson - the retail genius behind the rise of Shoprite
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district to Jack and Maude Basson. He was one of three children.
1061:"Africa's largest retailer lists on the Lusaka stock exchange" 405:. It took Basson nine months to revive Checkers' fortunes. 1034: 241:
in exchange for about 20% of Steinhoff's issued shares.
316:food stores, which at that point were owned by the 116: 104: 96: 88: 77: 69: 59: 30: 23: 1225:"Shoprite doubles Whitey Basson's pay after bonus" 843:"Atul Gupta wealthier than Johann Rupert – report" 1354:"Shoprite's Basson takes the plunge for charity" 1251:"Plea for Basson to share his R100m pay bonanza" 1089:"Interview: Shoprite CEO talks retail in Africa" 489:of the South African formal retail food market. 312:In 1984, Basson's first acquisition was the six 579:were not successful and had to be closed down. 1249:Evans, Jenni; Ismail, Adiel (7 October 2016). 807: 805: 1166: 1164: 1162: 754:"Whitey Basson: The 'Genius' behind Shoprite" 8: 975:"Listed Companies | Namibian Stock Exchange" 354:By 1998 Shoprite had branches in the remote 917: 915: 883: 1374: 1083: 1081: 881: 879: 877: 875: 873: 871: 869: 867: 865: 863: 722: 720: 718: 716: 714: 712: 710: 708: 706: 704: 702: 700: 20: 1199:"Whitey Basson to retire as Shoprite CEO" 698: 696: 694: 692: 690: 688: 686: 684: 682: 680: 1327:Ltd, Sharenet (Pty) (8 December 2017). 1197:le Cordeur, Matthew (31 October 2016). 1142:"The secret of Whitey Basson's success" 779: 777: 775: 676: 1003:Introduction to Marketing: 4th Edition 948:Motsoeneng, Tiisetso (18 March 2019). 393:, Marinus Darling, that resulted in a 499:Shoprite (South Africa) § Brands 7: 1275:Brand-Jonker, Nellie (10 May 2017). 841:Omarjee, Lameez (11 December 2016). 813:"Global Powers of Retailing Top 250" 279:In 1986, Shoprite was listed on the 643:and donated R100 000 worth of 620:on World Day for Decent Work 2016. 1171:Smith, Carin (16 September 2017). 511:. In 2019 the group had stores in 474:that would allow it to reduce its 14: 1432:South African business executives 478:by 50% while still offering good 265:chain in the Western Cape called 1301:Kew, Janice (5 September 2017). 1140:Planting, Sasha (4 April 2009). 1035:"Luska Securities Exchange PTY" 981:. Namibian Stock exchange. 2019 1442:South African chief executives 1427:Stellenbosch University alumni 1223:Kew, Janice (3 October 2016). 1006:. Juta, Limited. p. 151. 178:He attained his BCom CTA from 1: 1452:South African businesspeople 728:"COVER STORY: Whitey Basson" 521:Democratic Republic of Congo 439:The OK brand was created in 350:Checkers (supermarket chain) 168:Rondebosch Boys' High School 929:. Naspers. 10 November 2018 397:of Shoprite into Checkers' 190:at ER Syfret & Co (now 175:, but I never went there." 1468: 1437:South African billionaires 496: 466: 432: 347: 305: 257: 210: 1402: 1388: 1382: 1377: 155:Porterville, Western Cape 52:Porterville, Western Cape 16:South African businessman 1093:How We Made It In Africa 895:(radio show transcript) 611:chief operating officer 594:Stellenbosch University 403:Shoprite Checkers Group 239:Steinhoff International 180:Stellenbosch University 64:Stellenbosch University 567:and Zambia. Stores in 412: 196:PricewaterhouseCoopers 164: 407: 159: 35:James Wellwood Basson 1000:Strydom, J. (2011). 641:Ice Bucket Challenge 609:Engelbrecht, former 480:return on investment 105:Board member of 1378:Business positions 758:IOL Business Report 629:Clover South Africa 260:Shoprite (retailer) 111:Clover South Africa 888:Whitfield, Bruce. 760:. 15 November 2019 734:. 30 November 2016 186:in 1970 after his 182:and completed his 1410: 1409: 1403:Succeeded by 1121:. 17 October 2017 1095:. 11 October 2012 1065:Shoprite Holdings 1013:978-0-7021-7810-8 789:Shoprite Holdings 469:Pick n Pay Stores 364:Pick n Pay Stores 192:Ernst & Young 124: 123: 108:Shoprite Holdings 1459: 1405:P.C. Engelbrecht 1397:, Whitey Basson 1383:Preceded by 1375: 1370: 1369: 1367: 1365: 1360:. 9 October 2014 1358:Fastmoving.co.za 1350: 1344: 1343: 1341: 1339: 1324: 1318: 1317: 1315: 1313: 1298: 1292: 1291: 1289: 1287: 1272: 1266: 1265: 1263: 1261: 1246: 1240: 1239: 1237: 1235: 1220: 1214: 1213: 1211: 1209: 1194: 1188: 1187: 1185: 1183: 1168: 1157: 1156: 1154: 1152: 1137: 1131: 1130: 1128: 1126: 1111: 1105: 1104: 1102: 1100: 1085: 1076: 1075: 1073: 1071: 1057: 1051: 1050: 1048: 1046: 1031: 1025: 1024: 1022: 1020: 997: 991: 990: 988: 986: 971: 965: 964: 962: 960: 945: 939: 938: 936: 934: 919: 910: 909: 907: 905: 896: 885: 858: 857: 855: 853: 838: 832: 831: 829: 827: 822:. Deloitte. 2019 817: 809: 800: 799: 797: 795: 781: 770: 769: 767: 765: 750: 744: 743: 741: 739: 724: 650: 322:Raymond Ackerman 245:Half Price Group 100:P.C. Engelbrecht 48: 44: 42: 21: 1467: 1466: 1462: 1461: 1460: 1458: 1457: 1456: 1412: 1411: 1406: 1399: 1386: 1373: 1363: 1361: 1352: 1351: 1347: 1337: 1335: 1326: 1325: 1321: 1311: 1309: 1300: 1299: 1295: 1285: 1283: 1274: 1273: 1269: 1259: 1257: 1248: 1247: 1243: 1233: 1231: 1222: 1221: 1217: 1207: 1205: 1196: 1195: 1191: 1181: 1179: 1170: 1169: 1160: 1150: 1148: 1139: 1138: 1134: 1124: 1122: 1115:"Whitey Basson" 1113: 1112: 1108: 1098: 1096: 1087: 1086: 1079: 1069: 1067: 1059: 1058: 1054: 1044: 1042: 1033: 1032: 1028: 1018: 1016: 1014: 999: 998: 994: 984: 982: 973: 972: 968: 958: 956: 947: 946: 942: 932: 930: 921: 920: 913: 903: 901: 894: 887: 886: 861: 851: 849: 840: 839: 835: 825: 823: 815: 811: 810: 803: 793: 791: 783: 782: 773: 763: 761: 752: 751: 747: 737: 735: 726: 725: 678: 674: 657: 648: 637: 606: 585: 501: 495: 471: 465: 437: 431: 399:holding company 395:reverse listing 352: 346: 344:Checkers Stores 334: 310: 304: 285:net asset value 262: 256: 247: 215: 209: 204: 151: 109: 55: 49: 46: 40: 38: 37: 36: 26: 17: 12: 11: 5: 1465: 1463: 1455: 1454: 1449: 1444: 1439: 1434: 1429: 1424: 1414: 1413: 1408: 1407: 1404: 1401: 1387: 1384: 1380: 1379: 1372: 1371: 1345: 1319: 1293: 1267: 1241: 1215: 1189: 1158: 1132: 1106: 1077: 1052: 1026: 1012: 992: 966: 940: 911: 859: 833: 801: 771: 745: 732:Accountancy SA 675: 673: 670: 669: 668: 665: 661: 656: 653: 636: 633: 605: 602: 601: 600: 597: 588:2010 - DComm ( 584: 581: 497:Main article: 494: 491: 467:Main article: 464: 461: 433:Main article: 430: 427: 425:segmentation. 348:Main article: 345: 342: 333: 330: 306:Main article: 303: 300: 258:Main article: 255: 252: 246: 243: 223:Pep Stores Ltd 211:Main article: 208: 207:Pep Stores Ltd 205: 203: 200: 150: 147: 127:James Wellwood 122: 121: 118: 114: 113: 106: 102: 101: 98: 94: 93: 90: 86: 85: 79: 75: 74: 71: 67: 66: 61: 57: 56: 54:, South Africa 50: 45:8 January 1946 34: 32: 28: 27: 24: 15: 13: 10: 9: 6: 4: 3: 2: 1464: 1453: 1450: 1448: 1447:Living people 1445: 1443: 1440: 1438: 1435: 1433: 1430: 1428: 1425: 1423: 1420: 1419: 1417: 1398: 1396: 1392: 1381: 1376: 1359: 1355: 1349: 1346: 1334: 1330: 1323: 1320: 1308: 1304: 1297: 1294: 1282: 1278: 1271: 1268: 1256: 1252: 1245: 1242: 1230: 1226: 1219: 1216: 1204: 1200: 1193: 1190: 1178: 1174: 1167: 1165: 1163: 1159: 1147: 1143: 1136: 1133: 1120: 1119:John C. 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Index

Porterville, Western Cape
Stellenbosch University
Shoprite
Clover South Africa
Shoprite
Porterville, Western Cape
Rondebosch Boys' High School
UCT
Stellenbosch University
CA(SA)
articles
Ernst & Young
PricewaterhouseCoopers
Pep (store)
Christo Wiese
Pep Stores Ltd
JSE
Steinhoff International
Shoprite (retailer)
Shoprite
LSM
JSE
net asset value
Deloitte
Ackermans
Ackermans
Edgars Group
Raymond Ackerman
Pick n Pay
Checkers (supermarket chain)

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