ROBERTSON AND CAINE MD THEO LOOCK SAYS NEW SHAREHOLDER IS A VOTE OF CONFIDENCE IN SA
The South African boatbuilding sector has a new investor in the shape of global investment group PPF, which is expanding its footprint in the global recreational boating market.
Given R&C’s status as SA’s biggest builder, the PPF investment is a seismic event in the local marine manufacturing sector and has so far been greeted with enthusiasm. Commenting on the deal R&C MD Theo Loock said: “It is extremely pleasing to see that global investors like PPF are excited about the opportunities for South Africa in the marine industry,” Loock said in a joint statement published early in March. “We look forward to the conclusion of the required regulatory processes and a smooth transition to the new shareholders. The management team is excited to work with the new shareholder to design Robertson and Caine’s next 30 years and the strategic path to achieve it.”
Didier Stoessel, Chief Investment Officer (CIO) of PPF Group commented: “PPF is pleased to have agreed this transaction with Robertson and Caine’s founder and shareholders, who have achieved much success in building the Leopard brand. The quality of workmanship, skills and expertise of South African boat builders has attracted our investment. We are looking forward to working with the company’s exceptional management team and employees to smoothly transition ownership and further build on the excellence the company has delivered over its more than 30-year history.”