Acquisitions and disposals during the year


Effective 9 July 2014 the Logistics Africa division acquired 62,5% of the issued share capital of Pharmed for a cash consideration of R148 million. Pharmed is a pharmaceutical wholesaler which generates turnover of approximately R600 million and employs approximately 560 staff based in Durban and Johannesburg. It purchases product from pharmaceutical companies, and warehouses, distributes and sells to hospitals, private pharmacies and dispensing doctors. The Pharmed acquisition augments Imperial Health Sciences in support of Imperial’s strategy to integrate pharmaceutical wholesaling and distribution into its service offering.


Effective 1 September 2014, the Logistics Africa division acquired a 70% interest in Imres, for a cash consideration of R647 million (O46 million).

Imres is a wholesaler of pharmaceutical and medical supplies to its client base which includes NGO’s, hospitals and retailers. It operates in the international medical relief industry, targeting mainly African and emerging countries with developing healthcare markets and needs.

Imres plays a key role in the supply chain to end users and its service offering includes: sourcing, inbound logistics, supplier audits, quality control, warehousing, distribution and transport coordination. Its product portfolio includes pharmaceuticals, medical kits, hospital equipment and related medical products.

Imres adds sourcing and procurement capabilities to Imperial’s service offering with the potential to leverage off Imperial’s existing network and capabilities on the African continent.

Imres has a capable, experienced management team and the organisational processes and structures appropriate to pharmaceutical distribution. Founded in 1980, the company is headquartered in Lelystad in the Netherlands with a facility in India which provides support services and vendor qualification. Imres has annual revenues of approximately R700 million (O50 million).


Effective 1 September 2014 the Vehicle Retail, Rental and Aftermarket parts division acquired 100% of the issued share capital of S&B Commercials plc for a cash consideration of R167 million (£9 million). S&B Commercials is a Mercedes Benz (Commercial and Van) and Fuso dealer in the UK with annual turnover of approximately R2,1 billion (£115 million). The acquisition enhances our current dealer network by adding new territories to our Mercedes Benz footprint while further diversifying our brand representation in the United Kingdom.