Johannesburg - Investment holding company Bidvest says it will but Brandcorp for an undisclosed amount to add niche consumer and industrial products to its portfolio.
In a statement issued on Friday, the company - which employs 117 000 people and sells brands such as Audi and Konica Minolta - says buying all of Brandcorp allows it to add brands such as Cellini to its portfolio.
The Brandcorp portfolio will be ‘housed’ within Bidvest’s Commercial Products division (BCP), which will now be significantly enhanced, it says.
BCP trades in the industrial and consumer markets. Its industrial businesses include G.Fox, Plumblink, Afcom, Berzacks, Vulcan Catering Equipment, Buffalo Tapes, Sanlic House of Locks and Bidvest Materials Handling. The consumer businesses include Yamaha, Home of Living Brands and Academy Brushware.
Read also: Bidvest puts Bid Corp shares up for sale