Paper, packaging and graphic solutions provider Antalis South Africa has announced that the company will become South Africa’s leading black empowered company in its industry, on completion of a 100 per cent local buyout of shares currently owned by Antalis International.
Antalis South Africa has a net asset value exceeding R200 million and an annual turnover of over R1 billion. In the process of divesting from South Africa, Antalis International sold all its shares to two existing Antalis South Africa directors. The company will continue to trade as Antalis South Africa.
Following the buyout, the entity becomes an entirely South African owned company that is 51 per cent black- and 30 per cent black female-owned. Antalis South Africa’s B-BBEE maximum procurement recognition level will enable the company to partner with government, state-owned entities and other organisations that prioritise South Africa’s transformation agenda.
The new shareholder team comprises Antalis South Africa’s existing financial director Neelesh Kalidas, who will serve as joint managing director. Together with his business partner they will own a combined 51 percent of Antalis South Africa, with a 30 per cent black female shareholding.
Raymond Waldeck, currently managing director of Antalis South Africa, will hold the remaining 49 per cent of the company, and will also assume the role of joint managing director. Each managing director will concentrate on business functions specific to their core strengths for operational efficiencies and market optimisation.
‘Kalidas and Waldeck realised that the buyout opportunity presented by Antalis International would result in the formation of a truly empowered South African entity. Together with our 320-strong team, we will continue to serve existing and new customers with excellent service, innovative product ranges and industry expertise that Antalis customers have come to expect – elements that are critical to the ongoing success of the business,’ said Romano Daniels, spokesperson for Antalis South Africa.
‘Antalis South Africa will continue to be a reputable contributor to the local paper, packaging and graphic solutions market, just as it has been for over 120 years. We are proud to lead meaningful transformation of the industry that is long overdue, with this transaction.’
With an eye firmly on how digitisation and shifts in the commodity markets are changing the pulp, paper, and packaging trade worldwide, Daniels confirms that Antalis South Africa aims to continue increasing its focus on market opportunities in packaging, graphic equipment, visual communications, inclusive of signage and display as well as logistics services.
‘As the global demand for commodity paper changes, established businesses like Antalis South Africa, who has the widest offering in the market, are taking advantage of technological advances that create opportunities for new services, innovative product developments and overall industry growth,’ he said.
He noted that the increasing impact of environmental consciousness is bringing about new developments in paper packaging as an example of how changing consumer outlook and demand has benefited, rather than threatened, the paper and graphics solutions sector. Furthermore, Antalis South Africa will continue strengthening its ties with key global suppliers to ensure the organisation is always at the forefront of new product introduction to the market.
Daniels said that in the meantime, staff, clients and suppliers will find that business continues as usual because business stability is of critical importance to customers and staff alike.
‘This is an exciting new chapter in the Antalis South Africa life cycle, and as an influential, sustainable and transformed South African company, we look forward to being at the forefront of the continually-evolving local paper, packaging and graphic solutions industry,’ he concluded.