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Super Group, a global logistics and mobility group chaired by Zambian businessman Valentine Chitalu, has successfully acquired a 78.82-percent stake in UK-based logistics firm CBW Group Holdings, further solidifying its operations in the region.
The acquisition, executed through Super Group’s wholly-owned UK subsidiary, SG International Holdings Limited, was completed for a total consideration of £30.3 million ($39.2 million) in cash, with no deferred considerations.
CBW Group Holdings, which trades as Amco, generated impressive financial results in the twelve months ending on June 30, 2023, with earnings before interest, tax, depreciation, and amortization (EBITDA) of £9.2 million ($11.9 million), profit before tax of £8.36 million ($10.8 million), and profit after tax of £6.65 million ($8.6 million).
Under the terms of the deal, the existing management of Amco will retain the remaining 21.18 percent equity, and the company’s current management team will continue to be employed within the business.
Super Group, which operates supply chain, fleet, and dealership operations across Sub-Saharan Africa, the UK, Europe, and Australasia, is diversifying its income base and mitigating geographical risk.
Led by CEO Peter Mountford and chaired by Chitalu, the group’s strategic focus revolves around selective acquisitions in its core supply chain, fleet solutions, and dealerships businesses.
The acquisition of Amco aligns perfectly with this strategy, presenting an opportunity for Super Group to significantly strengthen its supply chain offering and pursue market share gains across the UK and Europe.
With the addition of Amco to its portfolio, Super Group is well-positioned to enhance its presence in the logistics industry and explore new growth opportunities in the UK and European markets.
Amco caters to over 250 active customers in various manufacturing sectors, including automotive, telecommunications, retail, construction, mining, and FMCG (Fast Moving Consumer Goods).
