The Competition Commission has approved a deal in which Shoprite Checkers plans to sell the Drakenstein Centre to FPG Holdings.

Drakenstein Centre is a retail shopping centre in Paarl, Western Cape, at the corner of Wemmershoek and Lustigan roads.

FPG Holdings, which is buying the mall, is a wholly owned subsidiary of FPG Property Fund, which is, in turn, owned by FPG Investments.

It is a private property fund that purchases, invests in, and constructs commercial and residential properties in South Africa.

FPG Holdings invests in rentable office, retail, and industrial properties in the Western Cape, Northern Cape, Gauteng, and North West.

The Competition Commission said the proposed transaction is unlikely to lessen or prevent competition substantially and does not raise public interest concerns.

Checkers is an anchor tenant in the mall. In November 2021, it opened its state-of-the-art supermarket at the Drakenstein Centre in Paarl.

It created 182 new jobs and elevated the customer experience by introducing in-store services, a strong emphasis on fresh food, and greater convenience.

The Checkers store features a Krispy Kreme coffee shop, a chocolatier bar, a sit-down sushi bar, a honey bar, stone-baked pizzas, and a dedicated health and wellness section.

It further offers artisanal breads, over 400 local and international cheeses, and wines from over 100 leading estates.

Numerous other stores are in the shopping centre, including fashion and footwear, health and beauty, home and décor, and food and beverages.

The brands include Starbucks, Woolworths Food, Clicks, Rain, Sorbet, Wellness Warehouse, Boorlegger, and Whitehouse.