amrod to aquire wizard
24 August 2017
Amrod is excited to announce that an offer to acquire Wizard Collective (Pty) Ltd has been accepted by Wizard’s shareholders.
The potential deal is subject to certain conditions precedent including the
approval of the South African competition authorities.
It’s important to note the following points:
1. Wizard will remain a standalone business under its current management team with its own identity, catalogues and marketing initiatives. We value the current business and our intention is to support and bolster its efforts.
2. Amrod plans to assist Wizard with capital to significantly grow its stock holding so that it will be able to offer a deeper and wider selection to its clients.
3. As Amrod has invested heavily in innovative systems and branding technology, we believe that the acquisition will assist Wizard to improve their platforms and internal systems, resulting in an elevated, streamlined customer experience.
4. There will be no job losses as a result of this transaction.
The two management teams are well suited and have the expertise, passion and desire to work together to create two world-class South African companies in the global promotional products industry; an industry that holds great promise and encouraging potential for growth.
We are confident that this will have many positive spin-offs for distributors and the industry generally.