South Africa: Twinsaver Group acquires Sylko
Twinsaver Group, a leading manufacturer and distributor of tissue paper products in South Africa, has acquired Sylko, a manufacturer of paper and related products such as aluminum foil, and disposable household products such as plastic tableware.
The investment follows the group’s acquisition of hygienic disposable products manufacturer Validus Medical and a 580 million ZAR ($43 million) investment to improve Twinsaver Group’s production capacity.
Twinsaver Group CEO Garth Towell said: "It is an absolute privilege welcoming Sylko, a business that has successfully established its products in homes across SA and subSaharan Africa, to the Twinsaver Group".
According to Supermarket & Retailer, Twinsaver Group aims to use the investment to accelerate its growth and to diversify its portfolio, whilst Sylko will be able to invest in technology and innovation to boost its market share.
Financial terms were not disclosed.
Source: Supermarket & Retailer