Pharmacy group Dis-Chem set to acquire 100% stake in Baby City from founding shareholders

AFRICA – Pharmacy group Dis-Chem has entered into a conditional arrangement to buy Baby City from its founder shareholders, the Aronoff family, for R430 million (US$23.35m).   The pharmacy group has entered into inter-conditional agreements in terms of which it will acquire 100% of the issued share capital of Fairy Tales Boutiques, and Somerset Baby Hyper, which make up Baby City.  In an update to shareholders, Dis-Chem said that Michel Aronoff would continue to serve as managing director of Baby City and current staff would be retained if the deal is given the greenlight…

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