Cashbuild to buy Pepkor’s Building Company for R1.1bn

Building materials group Cashbuild has agreed to buy Pepkor’s The Building Company for almost R1.1bn, a move it says will improve its retail presence in SA’s coastal regions.

Pepkor said the sale would streamline its portfolio of businesses. It intends using the proceeds to settle debt, which stood at R14.1bn at the end of March. TBC has a full-spectrum service offering to the construction industry including residential, commercial and industrial markets, with a core competence in servicing building contractors, Cashbuild said.

Since TBC had begun trading its full product range since June, it had seen an uptick in sales, said Cashbuild CEO Werner de Jager.

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