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Johannesburg (Capital Markets in Africa) – The Twinsaver Group (Twinsaver), the manufacturer of branded tissue products in South Africa, today announced its acquisition of Validus Medical (Validus), a leading manufacturer of hygienic disposable products. The sale, which is subject to regulatory and Competition Commission approval, signals a new chapter in Twinsaver’s journey as it focuses on establishing the business as a diversified FMCG company.
Speaking on the transaction, Garth Towell, CEO at The Twinsaver Group, said, “We are very excited to welcome the Validus team to the Twinsaver family. The acquisition is a significant move forward for our business as it will enable us to further diversify our product proposition, service new consumer segments and accelerate Validus’ growth through investments in technology, talent, and access to wider networks.”
Established in 2005, Validus has quickly grown its national portfolio of quality, disposable medical products across South Africa’s hospital, frail care and baby care industries. Known for brands like Clemens and Bumbies, the sale will provide Validus with the capital required to expand into ancillary and new categories.
Commenting on the decision to sell, Folkmar Geyer, Managing Director at Validus Medical said, “The synergies between Twinsaver and Validus are many; both businesses are market leaders, our products are complementary and our heritage, proudly South African. The added advantage is that the sale will help increase Validus’ production efficiencies and as a wider business, will help bolster the output of South Africa’s manufacturing industry.”
Concludes Towell; “South Africa’s manufacturing sector has been widely publicised as a gateway to enhancing the global competitiveness of the country. With the sector contributing more than 15% to the national GDP, we believe our business and the investments we make, play a vital role in unlocking the deeper potential of the sector. What’s particularly encouraging is the findings in the Industrial Development Corporation’s 2016 Economic Overview which ranked the business confidence in the paper and paper products industry above all other manufacturing sub-sectors.”