Lil-Lets Group had been acquired by Brait’s portfolio company, Premier, for an undisclosed sum, the investment company said on Wednesday afternoon.
Lil-Lets manufactures feminine hygiene products in South Africa, the UK and Ireland.
Premier bought the UK-based group from Electra Private Equity, among others.
“This acquisition presents Premier with an opportunity to broaden and grow its offering in the South African and African fast-moving consumer goods market and includes another renowned brand in its portfolio,” Brait said.
Premier owns most of Premier Foods, which makes Blue Ribbon bread, Iwisa maize meal and Snowflake flour.
In addition to expanding through acquisitions, Premier said it planned to widen its geographic footprint in the rest of Africa.
The acquisition is subject to regulatory approvals
. Brait shares closed 4c down at R41.85 yesterday. – Zandi Shabalala