Transaction Summary
Clearwater Capital (Pty) Ltd (Clearwater) has acquired SnoLink Logistics (Pty) Ltd (SnoLink), the temperature-controlled storage and logistics arm of Etlin International (Pty) Ltd (Etlin) for an undisclosed sum, as part of a business rescue deal. SnoLink operates in Durban, South Africa, the site of sub-Saharan Africa’s largest shipping port. The company specialises in storing and distributing perishable goods, including cold meats. Etlin, a major South African meat importer, entered business rescue proceedings in March 2023, but the details of their financial performance have not been made public. SnoLink will retain its Managing Director, along with all 480 of its staff. The acquisition strengthens Clearwater’s cold chain logistics capabilities and enhances market access for importers of temperature-sensitive products, such as ice cream and mechanically deboned meat.
Terms
- Seller: Etlin International (Pty) Ltd
- Buyer: Clearwater Capital (Pty) Ltd
- Target: SnoLink Logistics (Pty) Ltd
- Transaction Type: Mergers & Acquisitions
- Type of M&A: Buyout
- Investment
