Investec has advised Retailability on the sale of Legit, Swagga, Style and Boardmans to Pepkor Holdings Limited
About the deal
Investec acted as exclusive financial adviser to Retailability Proprietary Limited (Retailability) on the sale of certain of its retail businesses including the Legit, Swagga, Style, and Boardmans to Pepkor Holdings Limited (Pepkor).
The transaction will add significant additional scale to Pepkor Speciality and expand its product offering in the adult market, especially in womenswear through the Legit brand. The acquisition of Swagga and Style has strong synergistic benefits, expanding the group’s store portfolio and providing the opportunity to further grow the group’s share in the adult wear market with adding 469 stores. The Boardmans online brand, which operates in the homeware product segment, will become part of the Pepkor Lifestyle business.
“”
We are excited to welcome the Legit and other Retailability businesses into Pepkor Speciality, forming an integral part of our
strategy to grow our market position in adult wear. These businesses are a natural fit for Pepkor Speciality and we are looking forward to integrating them and unlocking benefits from the added scale.
About Retailability
Retailability Proprietary Limited is a privately owned South African retail group, with Metier Private Equity as a minority shareholder, offering affordable apparel and lifestyle products through a portfolio of well-known regional brands, including Edgars, Edgars Beauty, Red Square, Kelso, and Keedo — which are not part of this transaction and will continue to be operated by Retailability.
About Pepkor
JSE-listed Pepkor has the largest retail store footprint in southern Africa, 6 000+ stores and includes trusted brands such as PEP, Ackermans, Refinery, Incredible Connection and Bradlows – some established over 100 years ago.
Our role
The transaction reinforces Investec’s strong advisory track record in the consumer and retail sectors, supporting clients in unlocking shareholder value across Southern Africa.
