Nampak Group Announces The Disposal Of Its Liquid Cartons Business In South Africa
Nampak Group Announces The Disposal Of Its Liquid Cartons Business In South Africa. Nampak Group entered into an agreement with a consortium that is represented by Corvest 15 and Dlondlobala Capital Proprietary Limited acting in its capacity as fund manager of D Capital Fund 1 Proprietary Limited in terms of which the Nampak Group will dispose of its liquid cartons business in South Africa.
Corvest 15 is a private equity company and an indirect subsidiary of FirstRand Bank Limited. It forms part of the RMB Corvest private equity group of companies which was founded in 1989. The RMB Corvest group of companies invests in established, well-managed, medium sized businesses across South Africa and Sub-Saharan Africa with a proven track record of solid performance.
Dlondlobala Capital is a majority black owned investment holding company and private equity fund manager that invests in mid-size BEE related opportunities, buyouts, and growth capital investments, predominantly in South Africa. The current key Nampak Group management members (specifically, Raymond Dube and Shaun Du Plessis) will become shareholders into the acquired liquid cartons business as a result of the disposal. The beneficial owners of the purchaser are Corvest 15, Dlondlobala Capital and the abovementioned key management members.
Nampak is Africa’s largest packaging manufacturer and offers the most comprehensive product range, manufacturing packaging in metal, glass, paper and plastic. The company is comprised of numerous divisions that specialise in their own unique packaging materials products and machinery. Individually, the group’s divisions are industry-leading suppliers to the key targeted markets they serve. Combining forces collectively within Nampak’s operating units enhances the company’s strength in products while reinforcing Nampak as a global supplier of packaging solutions. This is a benefit particularly designed to assist in locating and providing the best products for customers across paper, plastic metal and glass substrates.
