DURBAN - Recently listed Stadio intends to acquire 100percent of Lisof, a leading fashion design school and retail education institution, for an undisclosed amount.
Stadio is making its second acquisition this month. Two weeks ago Stadio and Brimstone Investments entered into an agreement to acquire 100percent of issued share capital of MBS Education Investments (MBS Education) for R320million.
In explaining the acquisition Stadio chief executive Chris van der Merwe said Lisof was a magnificent illustration of an organisation that provides students with the skill sets that are aligned with the needs of industries and companies.
“Lisof’s brand is scaleable and forms an integral part of Stadio’s growth strategy,” he said.
At the beginning of October Stadio also announced that it wanted to raise R640m by way of an underwritten rights issue soon after it listed on the JSE. The move is set to raise money for future acquisitions.
Lisof will retain its own brand, campuses, management and staff, but will share a common ethos and benefit from the synergies, infrastructure and shared services available in the Stadio group.
It is Stadio’s goal to grow its business by focusing on acquiring reputable higher education institutions aligned with Stadio’s multiversity strategy and ethos with the aim to accumulate a wide spread of programmes and qualifications in various fields of higher education.
Stadio has a market capitalisation of almost R3billion. Stadio said as a multiversity, it aimed to own various registered higher education institutions.
It had already acquired the South African School of Motion Picture Medium and Live Performance (Afda), Embury Institute for Higher Education, and the Southern Business School. Lisof chief executive and founder Shana Rosenthal said the acquisition by Stadio would open many opportunities for Lisof.
“Being in the same arena as Afda gives us the opportunity to work alongside one another and complement each other as brands, and in our quest for the advancement of education and the arts,” Rosenthal said.
Lisof ’s reputation has been built on its ability to develop a curriculum that is unique in its variety and depth by employing and consulting leaders at the cutting edge of fashion, retail and education.
Lisof is a private higher education institution fully accredited by the South African Council of Higher Education and is the first institution to launch BA and BCom degrees in fashion in South Africa.
“That Stadio considers our programmes to be unrivalled in their scope and practical application is gratifying testimony to the excellence we strive for,” Rosenthal said.
Lisof covers a diversity of disciplines, from design to marketing, styling to buying, merchandising to photography, and many more.
- BUSINESS REPORT