Iliad Africa acquisitions get green light

Posted On Tuesday, 03 November 2009 02:00 Published by eProp Commercial Property News
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Eugene Beneke, CEO of Iliad Africa Limited, the JSE-listed building materials supplier, confirmed on Monday that the group's acquisition of DOH in the North West Province had received competition commission approval.

Eugene BenekeDOH is the largest and most-established general building materials supplier in the Brits area and fills the trading space for Iliad between Tshwane and Rustenburg. DOH's highly capable and experienced management team have been retained, in line with Iliad's philosophy on owner-managed enterprises.

Beneke says the group is now proceeding with the roll out of a further three general building materials stores in the Tshwane and North West region following on competition commission approval. All well-located, the stores in Centurion and Wierda Park will begin trading end November under the well-established Ferreira's Buildware brand name and the third store in Hartbeespoort will trade under DOH.

The acquisitions are expected to add at least R180 million a year to Iliad's turnover from 2010, broadening the retail presence in its general building materials division.

Beneke also noted that, as reported on SENS recently, the group had indicated its intention to extend its current strategic black economic empowerment (BEE) shareholding arrangement with the Women's Private Equity Fund and Vunani subject to shareholder and regulatory approval.

 

Last modified on Sunday, 06 October 2013 10:08

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