COMPANY COMMENT
Stellar growth sets up CA Sales for takeover
The consumer goods distributor has cornered enough viable southern Africa niches to appeal to mobility-logistics companies
The point has been made time and time again; keep a close eye on what PSG Group is nurturing in its private equity nursery PSG Alpha. Barely eight years ago, private education juggernaut Curro was a minuscule holding worth less than R100m tucked away in PSG’s private equity division, then known as Paladin Capital. One investment that has hardly garnered any market attention is fast-moving consumer goods distributor CA Sales Holdings, which was recently listed on the Botswana Stock Exchange and the 4 Africa Exchange (4AX). It looks as if it is shifting gears quickly. Recently released results for the year to the end of December showed headline earnings grew 29% to R137m on the back of a 17% rise in revenue to R4.7bn. CA Sales looks like an intriguing "African play", with operations spanning Botswana, Lesotho, Mozambique, Namibia, SA, Swaziland, Zambia and Zimbabwe. The firm reported that all major operations exceeded expectations, which should drive further acquisitions across southe...
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