Twinsaver Group diversifies in FMCGs, acquires Validus Medical
The Twinsaver Group has announced its acquisition of Validus Medical, a leading manufacturer of hygienic disposable products. The sale, yet to be approved by the Competition Commission, signals a new chapter in Twinsaver’s journey as it moves to focus on establishing the business as a diversified FMCG company.
Garth Towell (pictured), CEO of The Twinsaver Group, said:
"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 into technology, talent and access to wider networks."
According to Folkmar Geyer, Validus Medical MD, the synergies between Twinsaver and Validus are plentiful. He says the sale will help increase Validus' production efficiencies and, as a wider business, will help bolster the output of South Africa's manufacturing industry. The sale will provide Validus, established in 2005, with the capital required to expand into ancillary and new categories.
"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 within 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."
Private equity investment firm Ethos acquired Nampak's tissue division in 2015, and the acquired entity rebranded as The Twinsaver Group.