Nashua, electronics company Reunert's office automation subsidiary, has bought 60% of one of its franchises for R50 million.
The purchase of Nashua Central, effective at the start of last month, includes its debtors' book, which will be taken on by Reunert's wholly-owned RC&C Finance Company. The finance company, trading as Nashua Finance and Quince Asset Rentals, provides asset-based financial solutions.
Nashua MD Graham Rhodes says the “transaction forms part of Nashua's ongoing strategy to take a controlling interest in the large franchises situated in the major cities in SA”.
Nashua previously bought controlling interests in Nashua Eastern Cape, Nashua Pretoria and Nashua West Rand. It also holds a 74% share in Nashua Kopano.
“Nashua Central is one of our most successful franchises and they have embraced the colour printer strategy and grown document volumes strongly,” he says. Central was “Franchise of the Year” for 2008.
There are 37 franchises in total, with 61 outlets offering the Nashua range of products and services in Southern Africa. Nashua supplies office multifunctional devices in southern Africa and sources products from Ricoh.
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