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