Sasol and The Lion Match Company today announced that they have reached an agreement on the respective sale and purchase of Price’s Candles, a division of Sasol.
Sasol has owned the Price’s Candles business since 2002. Renowned as one of South Africa’s most trusted and reliable brands, the company has been making candles at its Newtown premises in Johannesburg since 1910. Today, it is a leading producer of high quality household candles and has expanded its product offering to include a wide range of decorative, fragranced, and coloured candles.
Alisdair Sinclair, Group CEO, The Lion Match Company said on the announcement: “The purchase of Price’s Candles aligns to our strategic intent of acquiring leading brands within chosen categories. Price’s Candles proud and trusted legacy and focus on quality, reliability and customer service complements the significant heritage of our Lion Match brand and balance of our product portfolio. This affords us the opportunity to further leverage our expanded product basket within Southern Africa and beyond. We look forward to welcoming Price’s Candles to our business.”
The sale is subject to certain conditions being fulfilled, one of which being the approval from the South African Competition Commission.
Dr. Thomas Lüdemann, Vice President Wax, Sasol Performance Chemicals, said on the announcement: “We are confident that the oldest and most trusted maker of candles in South Africa is a great fit for The Lion Match Company, and we wish them a successful future. The sale of Price’s Candles will not affect the continuity of the business and we remain determined to deliver the best service to our customers during this period of transition.”
Source: Sasol
