Early this year global retail giant Walmart concluded the acquisition of a controlling stake in Massmart in a controversial R16.5-billion deal.
But Stein said the acquisition of Cambridge Food and the entry of Massmart to food retail was totally independent of the Walmart deal.
But Stein said the food retailer would "obviously" utilise the experience and expertise of Walmart in claiming its space in the food retail market.
Massmart has four divisions: Masswarehouse, which has Makro; MassDiscounters, Game and Dion Wired; MassBuild with Builders Warehouse, Builders Trade Depot and Builders Express and then MassCash, which is the food wholesale business that includes Shield, a voluntary buying association, Cambridge and Jumbo Cash and Carry.
Cambridge Food in KwaZulu-Natal was acquired in 2009 when it had six stores.
In 2010 MassCash bought Astor Cash & Carry and recently Savemoor in Thembisa and JD's in Vosloorus. All are being rebranded as Cambridge Food.
"The market needs another competitor. I think adding another competitor to the market will add value for the consumer," Stein said.
"We want 100 stores by 2015 nationally and R10-billion a year in sales."
Stein said the retailer was proud that 60% of the positions at its latest store - Hillbrow - were filled by new employees.
Stein admitted that Shoprite had claimed the biggest space in the food retail market but he believed that it brought added value for the consumer.
"Our sole intention is to save the customer money so that they can live better," he said.
"At every executive meeting we have we focus on the customer. Obviously we are going to see what our competitor is doing but we will focus on the customer.
"If you focus on the competitor and not on the customer you are taking your eye off the ball."
He said the company's LSM focus was 2 - 7. To gain an edge over its competitors, Cambridge Food has opened a number of stores next to taxi ranks, bus stations and railway stations.
Source: Sowetan
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