RMB partners with Pepkor to unlock growth through strategic retail acquisition

04 November

RMB partners with Pepkor to unlock growth through strategic retail acquisition

RMB served as the sole financial advisor and corporate broker to Pepkor Holdings Limited (“Pepkor”) on its c. R1,7 billion acquisition of the Legit, Swagga, Style and Boardmans businesses from Retailability. This transaction marks an important milestone in Pepkor’s growth strategy and further strengthens RMB’s position as a trusted advisor in the retail sector.

The acquired businesses operate 462 stores across South Africa, Botswana, Lesotho, Namibia and Eswatini. Integrating this portfolio will significantly enhance Pepkor’s speciality division and improve its offering in the adult apparel market. It also complements recent strategic initiatives such as the launch of the Ayana womenswear brand, and the acquisition of Choice Clothing. Boardmans, the well-known online homeware brand, will be integrated into the Pepkor Lifestyle division.

Tyrone Vieira, CEO of Pepkor Emerging Business, commented: “We are delighted to have successfully concluded this acquisition, which marks the beginning of an exciting chapter for these businesses under the custodianship of Pepkor. We enjoyed working with the RMB team on this transaction and appreciated their support throughout the process.”

This is the second transaction in recent times where RMB has advised Pepkor – the first being the sale of The Building Company. RMB’s close collaboration with Pepkor and its deep understanding of Pepkor’s strategic priorities, as well as the needs of both the buyer and seller, helped unlock this deal for all parties involved.

“We are delighted that Pepkor has successfully closed this transaction with Retailability and that RMB was able to play an important role in achieving this outcome. The RMB team has shown both creativity and perseverance to deliver on a complex transaction within tight timeframes, achieving a mutually beneficial outcome for both Pepkor and Retailability,” says Ben Lowther, head of retail advisory at RMB.

The transaction underscores RMB’s strength in the retail sector, building on its recent roles in the Pick n Pay recapitalisation and Boxer IPO. The deal also marks the conclusion of another important advisory mandate for RMB in the retail sector, with deals in food, apparel and home improvement demonstrating the breadth of the bank’s retail sector insights.

“The conclusion of this deal highlights the strength of RMB’s integrated approach, leveraging the combined expertise of our Corporate Finance, Retail Sector and Corporate Broking teams. It also demonstrates our ability to deliver end-to-end advisory and execution support, providing clients with a comprehensive and deeply collaborative solution tailored to their strategic ambitions,” commented Krishna Nagar, RMB’s Head of Corporate Finance.

 

Ends