Nampak chief executive André de Ruyter said the disposal of the Cartons business in Nigeria was in line with Nampak’s ongoing strategy to sharpen its focus on strategic underlying businesses. “We continue to rationalise the portfolio to improve returns on capital and reinforce our strategic intent. Proceeds from this disposal will further strengthen the company’s financial position,” De Ruyter said.
Nampak, which has footprints in eleven African countries, said the disposal was subject to customary closing conditions, including local regulatory approvals.
“The parties to the transaction have agreed that no financial details will be disclosed,” the group said.
Nampak Cartons Nigeria is a producer of high quality folding carton products for the tobacco, food and consumer goods segments.