Cashbuild moves to acquire 60% stake in Allbuildco Holdings for R93 million

CASHBUILD has confirmed its intent to acquire a 60% controlling interest in Allbuildco Holdings for R93 million in a bid to solidify its position within the hardware and building materials market.

- 

The acquisition, executed through its subsidiary Cashbuild Management Services, was formalised via a subscription agreement on Monday. The transaction is poised to enhance Cashbuild's reach, targeting a previously underserved customer base across all LSM bands in South Africa.

Allbuildco, through its wholly-owned subsidiary, manages the operations and assets of three hardware and building material stores under the Amper Alles brand, located in Silver Lakes, Rayton in Pretoria, as well as in Groblersdal, Limpopo.

Presently, the stores are owned by Amper Alles Hardware City Riverdalc, Amper Alles Hardware City Rayton, and Amper Alles Hardware City Groblersdal (collectively).