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Cashbuild acquires Pepkor's building company for just over R1b

4 August 2020 7:39 PM
Tags:
The Money Show
Bruce Whitfield
Pepkor Holdings
pepkor
Cashbuild
Werner de Jager
The Building Company

'We still believe in the future of the economy' - CEO Werner de Jager explains why Cashbuild is taking on debt to clinch the deal.

It's not all doom and gloom for business out there - building materials retailer Cashbuild is buying The Building Company from Pepkor for just over R1 billion.

The Money Show gets the lowdown from Cashbuild CEO Werner de Jager.

Cashbuild is R10 billion turnover; The Building Company R8.2 billion... so yes, it's fairly sizeable for us.

Werner de Jager, CEO - Cashbuild

We will take on debt financing. Cashbuild has historically had a debt-free balance sheet and we always said that we will take on some debt if we find a good asset for the business and that will add long-term value for us.

Werner de Jager, CEO - Cashbuild

De Jager explains what made this such an attractive deal for Cashbuild:

It's part of our strategy - it gives us access to a broader market that we have not been serving currently... From a footprint perspective, under-represented areas for us, Western Cape, Kwazulu-Natal and the Eastern Cape...

Werner de Jager, CEO - Cashbuild

It's obviously not something that's an opportunistic buy... We still believe in the future of the economy and there's a big housing backlog, so we still believe we need to invest and there's a good runway for our products in the future.

Werner de Jager, CEO - Cashbuild

For more detail on Cashbuild's plans, take a listen:


4 August 2020 7:39 PM
Tags:
The Money Show
Bruce Whitfield
Pepkor Holdings
pepkor
Cashbuild
Werner de Jager
The Building Company

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