IMPERIAL Logistics in R500-m acquisition

IMPERIAL Logistics yesterday announced the acquisition of the pharmaceutical and consumer healthcare supply chain services business conducted by RTT Group (collectively referred to as “RTT Health Sciences”) for a total enterprise value of R500 million. The businesses to be acquired include RTT Medical, RTT Trans Africa, RTT Consumer Health and RTT Essentials as well as 100% of Fuel Africa Logistics, RTT Kenya and RTT Ghana. RTT Health Sciences specialises in multi-channel solutions for delivering essential medicines and consumer health products in South Africa, and to Namibia, Botswana, Mozambique, Zimbabwe, Zambia, Kenya, Tanzania, Malawi, Uganda, Ethiopia, Rwanda, Ghana, Cote d’Ivoire and Nigeria. The acquisition, which will be funded from existing funding resources, is subject to SA Competition Commission and SA Reserve Bank approval, which have to be achieved by 20 January 2013.