https://newsletter.en.creamermedia.com
Financial|footwear|Industrial|Products
Financial|footwear|Industrial|Products
financial|footwear|industrial|products

Tribunal approves IDC’s buyout of Celrose, with conditions

15th April 2019

By: Tasneem Bulbulia

Deputy Editor Online

     

Font size: - +

The Competition Tribunal has approved, with conditions, the proposed transaction whereby the Industrial Development Corporation (IDC) plans to acquire clothing and footwear manufacturer Celrose of which embattled retailer Edcon is a majority shareholder.

The IDC is State-owned and provides financial support to businesses. It also provides finance to entrepreneurs through loans and equity.

The IDC holds interests in several companies in various industries, including textiles, clothing and agriculture.

Celrose owns Eddels Shoes and supplies clothing and footwear to the Edcon group and other retailers in South Africa and Zimbabwe.

To address merger-related employment concerns raised by trade unions, Celrose may not retrench any employees as a result of the merger for a period of five years from the implementation date of the merger.

Celrose must also, during the first five-year period of an amended merchandise supply agreement with Edcon, provide reports to the Competition Commission in relation to the agreement’s background.

Under the terms of the merchandise supply agreement, Edcon will continue to procure products from Celrose and Eddels following the transaction.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Latest News

Magazine round up | 27 February 2026
Magazine round up | 27 February 2026
27th February 2026

Showroom

SAJ Electrics
SAJ Electrics

Smart energy storage solutions for efficient, safe, and profitable power.

VISIT SHOWROOM 
Monitor Distributors
Monitor Distributors

We at Hawk High Pressure Pumps specialise in industrial pumps and pumping systems. Our high pressure washing equipment is locally manufactured and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Head and shoulders shot of Amanuel
Structural shift under way
27th February 2026 By: Devina Haripersad
Engineering News editor Terence Creamer
2026 Budget highlights
25th February 2026 By: Creamer Media Reporter

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.039 0.152s - 133pq - 2rq
Subscribe Now