Ethos to Acquire Nampak's Tissue, Other Paper Divisions
Print this Article | Send to Colleague
Ethos Private Equity, South Africa, has agreed to acquire Nampak’s (South Africa) tissue, corrugated, and sacks divisions for a total purchase price of ZAR 1.6 billion (approximately $143 million). The acquisition does not include Nampak’s 50% shareholding in Sancella Proprietary Ltd.
For some time, Nampak has had a stated strategy of focusing on core product segments in South Africa and the rest of Africa, and these three divisions do not form part of this focus, the company noted. The transaction is subject to several conditions, including various demerger and supply arrangements with Nampak and approval by the competition authorities.
As the consumer division within the Nampak Group, the tissue division supplies many South African households with high quality tissue products, which include the Twinsaver, Cuddlers, Lifestyle, and Tena brands. In addition, the division has a specialized away-from-home division providing washroom solutions to the commercial and industrial sectors. Its South Africa tissue production operations are in Johannesburg and Pietermartizburg.
