Pepkor, Backed By Billionaire Christo Wiese, Strikes 104 Million Deal To Expand Its Retail Empire

Pepkor is acquiring four Retailability brands for 104 million, adding 462 stores across five African countries to strengthen its adultwear market position.

The deal enhances Pepkors retail footprint, integrating Legit, Swagga, and Style into its Speciality division while Boardmans joins its Lifestyle portfolio for diversification.

Pepkor will finance the transaction through cash reserves, leveraging its supply chain scale and financial services to drive growth and efficiency across its retail network.

Pepkor Group, the investment holding company backed by South African billionaire Christo Wiese, has struck a deal to acquire four adult fashion brands from Retailability, a privately owned Durban-based retail group, for 104 million.

The acquisition , which is subject to regulatory approval, will add 462 stores across South Africa, Botswana, Lesotho, Namibia, and Eswatini to Pepkors expanding retail network, strengthening its position in the adultwear market.

The R1.9 billion 104 million deal is a strategic move for the Cape Town-based retailer as it looks to expand its presence in adult fashionan area where it has been less dominant compared to its stronghold in childrens and schoolwear.

The acquired brandsLegit, Swagga, Style, and Boardmanswill be integrated into the Pepkor Speciality division, which already includes Tekkie Town, Shoe City, Dunns, Refinery, CODE, SPCC, and Ayana.

This transaction is a milestone in expanding our adultwear market share, said Tyrone Vieira, CEO of Pepkor Emerging Businesses. Legit will enhance our womenswear offering, while Swagga and Style will create operational and store synergies within our portfolio.