G.U.D. Holdings (Pty) Ltd Acquire Safeline Brake Pads
ANNOUNCEMENT OF ACQUISITION
G.U.D. Holdings, South Africa's leading automotive filter manufacturer since 1949 has acquired Safeline Brake Pads.
Founded in 1992, Safeline has rapidly grown to become one of the largest manufacturers of high quality Original Equipment (OE), P&A and Aftermarket disc brake-pads in South Africa.
The transaction is subject to the successful conclusion of a due diligence procedure and the approval of South African Competition Authorities in terms of the Competition Act No. 89 of 1998, as amended.
Red Shuttleworth, Group Managing Director of G.U.D. Holdings believes that, â€œThis acquisition is strongly aligned to our strategy of manufacturing and marketing great South African brands and, that the addition of this leading brand with a solid track record and exciting future growth opportunities will allow G.U.D. Holdings to further capitalise on its expertise in the premium branded automotive aftermarket replacement parts market.â€
Otto Muller, the founder and Managing Director of Safeline Brakes as well as other executive and senior management will continue in the business for an appropriate period. Otto said that â€œSafeline had been incredibly successful since its humble beginnings and he was extremely excited that G.U.D. Holdings had acquired the business as he sees huge opportunities for the business to continue to grow and prosper.â€