Edgars Acquisition In The Offing
Retailability Proprietary Limited, a clothing apparel retail store trading under the names “Beaver Canoe,” “Style,” and “Legit,” is aiming to acquire some of parts of the Edgars business conducted by Edcon in Botswana.
According to the Competition and Consumer Authority (CCA) through a merger notice published recently, Retailability is pursuing acquisition of parts of Edgars through Oclin Proprietary Limited as a going concern, consisting of certain assets and identified liabilities.
The acquirer, Retailability, is controlled by Clifford Raymond Lines and Metier Investment and Advisory Services Proprietary Limited.
Beaver Canoe which is one of the stores that Retailability trades under, sells clothing apparel for men and boys only while Style, on the other hand, offers men’s and ladies’ contemporary and formal fashion. Legit has a fashion store format which focuses on retailing of clothing, footwear and accessories, as well as colour cosmetics and cellular products.
There are currently five Beaver Canoe stores, 10 Style stores and seven Legit stores across Botswana. The target business forms part of the Edgars Division, which is Edcon’s department store brand, selling clothing, footwear and accessories for men, women and children. In addition, these stores offer textiles, cosmetics and cellular products. The Edgars Business is controlled by Edcon Botswana, which in turn is controlled by Edcon.
The target business comprises two Edgars franchise brand and private label stores across Botswana. “These stores target middle to upper income customers and are home to a range of private label brands such as Free2BU, Charter Club and Stone Harbour, as well as a wide range of market label brands such as Levi’s and Guess for clothing, footwear and cosmetics,” says the CCA merger notice.
“In addition, the target business operates iconic Edgars Home and Edgars Beauty stores as store-in-store formats rounding out the department store offering in Botswana.”