Cashbuild shares rise as it agrees to buy Pepkor’s Building Co

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.