Fast-moving consumer goods services group CA Sales Holdings, trading as CA&S Group, was listed on the main board of the JSE at the opening of the stock exchange’s markets at 09:00 on June 27.
The JSE listing comes after CA&S listed on the BSE in 2017.
“Th[e] dual listing for CA&S . . . will certainly raise the profile of our group within the South African-based retail and institutional investors and may increase the liquidity of our shares,” says CA&S Group CEO Duncan Lewis.
CA&S Group offers route-to-market services to 200 international and local blue-chip brand owners of consumer packed goods, has over 12 000 employees and services more than 35 000 retail outlets.
The group provides a full service offering outside South Africa including warehousing, merchandising, transport and logistics, sales, merchandising, technology and data services, shopper marketing, retail training, as well as select debtor services. Within South Africa, the focus is on sales and sales execution for brand owners.
The portfolio of blue-chip clients covers all categories of consumer products, including food, home care, personal care, consumer durables, snacks and confectionary, paper products, beverages, pet care, alcoholic beverages, frozen foods and tobacco products and accessories.
CA&S Group estimates its market capitalisation (cap) to be about R2.2-billion at the time of its listing, floating 461.4-million shares on the JSE’s main board, where it is trading under the code CAA.
CA&S Group chairperson Johan Holtzhausen says the group is well positioned to take advantage of the opportunities in the various jurisdictions it operates. “Our management teams are exceptional and experienced to overcome the obstacles that may be encountered.”
“We are a strong mid-market company, with a current market cap of over R2-billion and with bold, yet achievable ambitions. Our revenue in 2021 was over R8-billion . . . with over 80% of our revenue contributions being located outside of South Africa,” adds Lewis.
“When one thinks of what the true purpose of our group is, it is to provide essential services, delivered by essential workers to ensure that millions of households get essential products they need to experience better quality lives. We will continue to fulfil this purpose to an even greater extent,” he says.
The businesses in the group are well established in the markets in which they operate, some dating as far back as the 1970s. The collective of these businesses rely on collaboration with one another and all follow streamlined processes while leveraging on efficiencies within the group.
The businesses in the CA&S Group include CA Sales & Distribution, PEO Promotions, Kalahari Training Institute and Smithshine Enterprises in Botswana.
In South Africa, they comprise Pack n Stack, Visible Worx and Effective Sales and Merchandising.
Meanwhile, Logico is based in eSwatini, while SMC Brands operates in Namibia, Botswana, Lesotho and eSwatini. Wutow Trading trades in Namibia; Whitakers in Lesotho; Proxemus in Zambia; BullRed Distribution in Zimbabwe; and the MacMobile Group in South Africa, Kenya and Mauritius.
CA&S Group was first incorporated in South Africa in 2011, expanding later to Botswana, Swaziland, Namibia, Lesotho, Zimbabwe, Mozambique and Zambia.
JSE capital markets director Valdene Reddy says the listing of CA&S Group is a positive reflection of the JSE’s efforts to attract new listings.
“We are committed to growing the attractiveness of our listed markets. In so doing, we have embarked on a journey to improve the ease and appeal of listings through various regulatory and product proposals in efforts to attract issuers and investors to our exchange.”
In a pre-listing statement released on June 6, CA Sales informed its shareholders that it was moving its dual primary listing from the Cape Town Stock Exchange to the JSE.
The listing of CA&S Group brings the number of listed companies on the JSE to 313, with an overall market cap of more than R19.3-trillion.