Business

CA sales expands regional footprint to Zambia

 

CA Sales, which operates within the fast-moving consumer goods (FMCG) space, announced its acquisition of 49% of the issued share capital of Warbrands in Zambia.

The principal business of Warbrands is the importation and nationwide distribution of consumer and related goods in Zambia.

Having begun operations in 2012, Warbrands has steadily established itself as a reliable and professional supplier to its customers in Zambia.

According to CA Sales management, the acquisition affirms the geographical expansion of CA Sales into other countries in Africa.

CA Sales Holdings is already represented in most African countries in Southern Africa and it has been well known for its service offering that includes selling, merchandising, warehousing, distribution, debtor’s administration, marketing and promotions, point of sale warehousing and training.

The company stated in an announcement that its acquisition is in line with its strategic intent of expanding its presence in Africa through the purchase of established businesses acting as agent on behalf of manufacturers or principals of consumer and related goods.

The acquisition of Warbrands follows the recent listing of CA Sales on the Botswana Stock Exchange (BSE), becoming the fifth company to list under retail and wholesale.

Valued at P1.4 billion on the day of its listing, the company shares were over-subscribed as it received 376 applications totalling 146,191,572 shares from invited investors and the public by November 1, this year for the available 136,112,994 ordinary shares offered at P3.45 each.

CA Sales was incorporated in 2011 as a private company in South Africa. The giant consumer goods transportation company is in turn controlled by PSG Group Limited (PSG), a company listed on the securities exchange, operated by the JSE Limited.

Before the listing, PSG Africa led the shareholding with 52.8% followed by Export Marketing Limited at 36.5% whilst Jagdish Shah has 4.8%.