IMPERIAL Logistics Big wheel, keep on turning
IMPERIAL Holdings continues its drive (groan) to expand in Africa with the acquisition of 49% of MDS, a logistics business in Nigeria, for a cool $26million. Last year, you may recall, although oddly we don’t, they bought RTT’s pharmaceutical and consumer healthcare supply chain business for 500million rond, giving them footprint in Rwanda, Kenya, Uganda, Tanzania, Ethiopia, Côte d’Ivoire, Ghana and again Nigeria. MDS is itself no lightweight, with 50 DCs that serve a massive 600 towns in that chaotic yet promising African giant. Tiger Brands – who own 49% of UAC Foods in Nigeria, and who are a big customer of IMPERIAL back home, are understandably delighted by the move.
Comment: This is what we in the industry call a BFD, or Big Freakin’ Deal. It is our own personal belief that anyone who doesn’t put a bob or two of their hard-earned into logistics businesses in Africa should, respectfully, get their heads read.