Cashbuild shares rise as it agrees to buy Pepkor’s Building Co
One analyst says The Building Company has a better outlook in Cashbuild’s hands than in Pepkor’s
04 August 2020 - 10:03
UPDATED 04 August 2020 - 13:30
In a vote of confidence for SA’s embattled building sector, Cashbuild has agreed to buy Pepkor’s The Building Company (TBC) for almost R1.1bn — a move it says will improve its retail presence in SA’s coastal regions.
The acquisition would almost double Southern Africa’s largest building retailer’s revenue, with CEO Werner de Jager saying the acquisition would also give Cashbuild additional access to SA middle- to high-income consumers...
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