Kolosus to acquire Glodina Holdings
The meat and leather products processing company, Kolosus Holdings Ltd, has registered its intention top acquire Glodina Holdings the towelling products group, along with its subsidiary Dano Textiles, and polyester producer Hosaf Fibres Ltd in South Africa
The acquisitions total an investment of R375.9-million ($56.5 million) in shares for Kolosus, whose majority share of which is held by the German Daun Group, and are still subject to the approval of Kolosus and Glodina shareholders.
The intention of the acquisitions is to create a diversified group whilst enabling the Daun group to consolidate certain of its South African investments.
