In this 2nd Podcast of our series with Bounty Brands, Stefan and Nick discuss the reasons why Coast2Coast via Bounty has entered the retail market with their strategic choices of homecare/beverages and clothing-footwear as well as future options for expansion not only in services/products offered but also eventually a penetration of other African Markets.
Following its success in the listing of Ascendis Health, investment house Coast2Coast has launched a new venture focused on the fast-moving consumer goods sector. The subsidiary, named Bounty Brands, includes former Pick n Pay CEO Nick Badminton as its Non-executive Chairman. Bounty Brands has already spent over R550-million acquiring its first three businesses with combined revenues in excess of R500-million. This is just the beginning of the acquisition trail, as Bounty Brands is aiming for a main board listing on the Johannesburg Securities Exchange (JSE) in the next three years.
Coast2Coast has over 25 professionals in its investment team and was founded in 2007 by Gary Shayne and Cris Dillon. It plays an active ownership role in the companies it buys, driving acquisitive, synergistic and organic growth. Coast2Coast listed Ascendis Health in the pharmaceutical sector in November 2013 – with its share price rising 50% in the first year. Ascendis currently has a market capitalisation of close to R5-billion, of which Coast2Coast still holds 45%.
According to Stefan Rabe, Managing Director at Bounty Brands, the relationship between Coast2Coast and Bounty Brands will follow the same dynamic as between Coast2Coast and Ascendis. “Bounty Brands is the operating platform that Coast2Coast will use to invest in the non-health consumer goods sector.” He says Bounty Brands is focusing on three areas: clothing and footwear in its Bounty Wear division; personal care, cosmetics, skincare and household brands in its Bounty Home & Care division; and food and beverages in Bounty Foods.
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