WHAT started out as a corner shop in Port Elizabeth and grew into a huge wholesaler, has now become part of a national chain.

A large stake of a Port Elizabeth family business spanning roughly six decades was sold to a major South African retailer yesterday.

Masscash, a wholly owned subsidiary of the third-largest distributor of consumer goods in Africa, Massmart, will acquire a 75% stake in Finro Enterprises (Finro), while Finro will hold on to the remaining 25%.

This comes after the Competition Tribunal unconditionally approved the merger between Masscash Holdings and Finro Enterprises in Johannesburg yesterday.

Masscash comprises 79 wholesale and retail cash and carry stores which include Game, Makro and Builders Warehouse, trading in South Africa, Lesotho, Namibia and Botswana. It also includes Shield, a voluntary buying association.

Finro Cash and Carry director Neil Son Hing said yesterday the business was started in 1946 by a Mr Fin and his wife, Rose, hence the name Finro.

Son Hing said his uncle, Victor, had bought the retail hardware store from the Fins in 1949 when it was situated in the “old South End”. Son Hing’s parents, Esther and Neville, started working at Finros in 1951 and eventually bought it from Victor when he moved overseas in 1978.

The elder Son Hings, now both aged 74, had left school in Grade 6, their son said.

Now situated in Grahamstown Road, North End, the business has moved premises five times – from South End to Main Street (now Govan Mbeki Avenue), then to Broad and De Villiers streets in North End. Finros moved from De Villiers Street to the current 1400m² property in Grahamstown Road in 2001.

“We built it from scratch,” Son Hing said.

Graduating with a pharmacy degree from Rhodes University in 1980 did not deter him from joining the sprawling business because “we were brought up in the business”, the former Woodridge High pupil said.

Finros started off selling only hardware, but then bought out Stan’s Cash and Carry when the store faced liquidation in 1984. “They sold groceries ... so that’s how we ended up selling groceries as well.”

Asked why they had sold a controlling stake to Masscash, Son Hing – whose sister, Noeleen Mason, is also involved in the business – said the family was emigrating, but would not say where. He said he would, however, be staying behind as “we are looking forward to growing the business further”.

This despite the negative effects of the recession on the business. “We hadn’t experienced any lows in the business until the economy took a smack. However, we have identified lots of possibilities.”

Son Hing said Finro would open next month as Jumbo Finro Cash and Carry. Masscash would keep the staff, although there would be a “few changes”.

Weirs Cash and Carry manager Delville Moss “will be coming down here (to Finros) as a manager, but I can’t confirm the date”, Son Hing said.

He said nothing much would change under the new management as they would continue providing the same services to residents.

However, more often than not, members of a family business have a reputation of not being able to differentiate between family and business time. Son Hing was asked if this had been his family’s experience.

“Well, there will always be issues in any family business. We have had lots of problems ... many times. But what is important is that we managed to get through them,” he said. His leisure activities include cycling, running, swimming and golf.

While the family’s objective remained that of working “very hard” in building the business further, Neil – whose grandparents come from the Moyen province in China – said he would love to visit the communist country in future, “just to see it”.