Takealot Group has bought its on-line style enterprise Superbalist to a personal fairness consortium, the e-commerce group mentioned on Monday.
Phrases of the deal weren’t disclosed.
“As of 1 September 2024, Superbalist has been acquired by a South African consortium of retail and personal fairness buyers, led by Clean Canvas Capital,” Naspers-owned Takealot mentioned in a media assertion.
“This strategic acquisition will help Superbalist’s ongoing development, permitting Takealot Group to dedicate its efforts to additional increasing Takealot and Mr D,” it added.
“We prolong our greatest needs to the Superbalist workforce as they embark on this new chapter of their journey. All through the transition interval, Superbalist companies will proceed to function with out interruption, making certain prospects expertise no disruptions.”
Takealot mentioned it would proceed to supply warehousing and logistics companies to Superbalist after the events signed a multi-year service settlement.
The lead investor within the consortium that’s shopping for Superbalist is Black Canvas Capital, an organization whose companions are Neil Freeman, JD de Villiers and Darren Roy. Black Canvas’s different investments embrace The Courier Man and Vantage Knowledge Facilities.
Struggled
Superbalist, which was based as CityMob in 2010 by Luke Jedeikin, Claude Hanan and Daniel Solomon, has struggled as competitors has mounted from Chinese language fast-fashion retailer Shein. (Jedeikin and Hanan subsequently went on to discovered on-line style retailer Bash in The Foschini Group secure.)
Takealot acquired Superbalist 10 years in the past and has been trying to promote the enterprise for a while. – © 2024 NewsCentral Media
