BWG Group has today made a formal offer to acquire the trading business of ADM Londis. Londis’ Board members who are shareholders have confirmed that they intend to accept the offer in respect of their shares.
The offer is valued at €23 million.
The offer is subject to certain conditions, including acceptance of the offer by holders of at least 80% of the issued shares of ADM Londis, as well as Competition and Consumer Protection Commission clearance.
Should the deal be completed, BWG has said that it is 'committed to retaining and promoting the Londis brand and to investing in its future growth and development'.
“We are excited about the opportunity to grow the Londis brand in conjunction with our existing portfolio of market leading convenience brands," said Leo Crawford, CEO, BWG Group.
"Through our partnership with SPAR South Africa, BWG has ambitious plans for investment and expansion and we would warmly welcome Londis retailers into our business where they can be part of our future success”.
Commenting on behalf of Londis, Stephen O’Riordan, CEO, said, “At Londis we’re keen to continue a journey that has seen the group drive efficiency and service whilst delivering value for customers and protecting retailer margins.
"We believe that being part of a global business of scale would further enhance competitiveness for consumers and franchisees. We are encouraged by BWG’s commitment to supporting the Londis brand and to investing alongside our retailers for continued growth." Londis is being advised by Capnua Corporate Finance.
© 2015 - Checkout Magazine by Stephen Wynne-Jones