Centillion

 

The BEE deal between Espin Capital (Pty) Ltd (Espin) and Centillion Group (Centillion), saw Espin acquire a shareholding in Centillion that resulted in the Company becoming a black-owned entity.

Centillion, a local manufacturer and importer of leading brands, holds a national footprint and supplies a vast range of both imported and locally manufactured products to national retailers, wholesalers, listed food service chains and small to medium size distributors. The company is a leading manufacturer of trusted, quality plastic products, as well as paper and packaging solutions favoured by the local catering and food service industries.

“Our product range includes durable plastic housewares and paper products, packaging solutions, toys and games, as well as Christmas decorations and confectionery, in addition to a variety of household detergents,” outlines Centillion’s Founder Kevin Devitt, MD.

Centillion offers permanent employment to over 250 staff, and additional seasonal employment on an ad-hoc basis. The company boasts a leading market position with long-standing blue chip customers, supplying a large and diversified product range. “We are able to supply a complete basket of goods directly, further giving us a competitive edge,” noted Devitt.

“Critically, Centillion has a highly experienced management team who also acquired shareholding in the business as part of this transaction,” added RMB Corvest Executive, Benka Nakos. “This, coupled with the company’s impressive financial trajectory, solid dividends and historic profitability, made Centillion a perfect fit regarding our investment criteria.”

“Growing empowerment equity will facilitate improved BEE procurement credentials for all Centillion’s customers,” noted Nakos. New markets, powered by an increasing ‘green’ awareness, are also opening to the company, which has recently embarked on an eco-friendly range of paper straws.

“Centillion offers its investors continued growth prospects through its solid market positioning and we are looking forward to a strong, value-enhancing partnership between Espin and Centillion,” concluded Alberts.