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South African clothing retailer Pepkor acquires 469 stores from Retailability
Yahoo Finance· 2025-11-05 14:44
Core Insights - Pepkor Holdings has acquired several fashion brands from Retailability for approximately R1.7 billion ($97.22 million) [1] - The acquisition includes the Legit, Swagga, Style, and Boardmans brands, adding 469 outlets to Pepkor's operations and increasing its total store network to over 1,000 locations [1][2] - The transaction received all regulatory approvals and became effective on November 2, 2025 [1] Business Integration - The Legit, Swagga, and Style brands will be integrated into Pepkor's Speciality division, enhancing its presence in the adult apparel segment, especially women's fashion [2] - The Boardmans brand will be incorporated into the Pepkor Lifestyle division, reinforcing the company's position in the homeware sector [2] - Pepkor anticipates that the acquisition will generate additional value by leveraging its scale and retail expertise across the entire value chain, including financial services [2] Leadership Commentary - Tyrone Vieira, CEO of Pepkor Emerging Businesses, expressed enthusiasm about the successful conclusion of the transaction, indicating it marks the start of a new chapter for the acquired businesses [3] - The integration phase is expected to harness the strengths of the acquired brands within the Pepkor ecosystem [3] Advisory Support - Investec Bank acted as the equity and debt sponsor for Pepkor [3] - Rand Merchant Bank served as the financial adviser and corporate broker, while ENS Africa provided legal advice to Pepkor [4] - Retailability received advisory support from Investec Bank and legal services from Cliffe Dekker Hofmeyr [4]