Pep to acquire Big Daddy
Approved
Pep will take hold of family-owned retailer, Big Daddy.
The Namibia Competition Commission (NaCC) has approved two major retail acquisitions: JD Financial Services Proprietary Limited’s purchase of OK Furniture and Pep Stores (Namibia) Proprietary Limited’s acquisition of Big Daddy Clothing, both subject to conditions.
In the first transaction, JD Financial Services acquired the retail furniture segment (OK Furniture) and the associated Furniture Debtors Book from OK Bazaars (Namibia) Limited. JD Financial Services operates in retail (clothing, footwear, home ware, furniture, appliances, and electronics), fintech, and strategic services. OK Bazaars, through its OK Furniture and House & Home brands, focuses on household furniture, appliances, cellular products, and textiles. The NaCC approved this deal with undisclosed conditions.
The second transaction involves Pep Stores (Namibia) Proprietary Limited acquiring Audacity Clothing, which trades as Big Daddy Clothing. Pep Stores shares a similar business portfolio to JD Financial Services, spanning retail (clothing, footwear, home ware, furniture, appliances, and electronics), fintech, and strategic services. Big Daddy Clothing, a family-owned retailer with 24 stores across Namibia, specializes in affordable fashion apparel, primarily for adults, with a limited range of children’s and baby clothing. This acquisition was also approved with conditions.
“The target undertaking is the Big Daddy Clothing business, which is a family-owned cash based national retailer operating 24 stores in Namibia, focused on fashion apparel at low prices with an adult-focused product offering with limited range of kids and baby clothing. The Commission resolved to approve this transaction with conditions,” the NaCC said of Big Daddy’s acquisition of Pep.
“The Commission wishes to encourage concerned stakeholders to ensure that they remain in compliance with the Competition Act. Where stakeholders are not sure whether the transaction/s they wish to pursue are notifiable or not, the Commission encourages such stakeholders to seek an advisory opinion from the Commission before proceeding with the implementation of a transaction,” it added.
In the first transaction, JD Financial Services acquired the retail furniture segment (OK Furniture) and the associated Furniture Debtors Book from OK Bazaars (Namibia) Limited. JD Financial Services operates in retail (clothing, footwear, home ware, furniture, appliances, and electronics), fintech, and strategic services. OK Bazaars, through its OK Furniture and House & Home brands, focuses on household furniture, appliances, cellular products, and textiles. The NaCC approved this deal with undisclosed conditions.
The second transaction involves Pep Stores (Namibia) Proprietary Limited acquiring Audacity Clothing, which trades as Big Daddy Clothing. Pep Stores shares a similar business portfolio to JD Financial Services, spanning retail (clothing, footwear, home ware, furniture, appliances, and electronics), fintech, and strategic services. Big Daddy Clothing, a family-owned retailer with 24 stores across Namibia, specializes in affordable fashion apparel, primarily for adults, with a limited range of children’s and baby clothing. This acquisition was also approved with conditions.
“The target undertaking is the Big Daddy Clothing business, which is a family-owned cash based national retailer operating 24 stores in Namibia, focused on fashion apparel at low prices with an adult-focused product offering with limited range of kids and baby clothing. The Commission resolved to approve this transaction with conditions,” the NaCC said of Big Daddy’s acquisition of Pep.
“The Commission wishes to encourage concerned stakeholders to ensure that they remain in compliance with the Competition Act. Where stakeholders are not sure whether the transaction/s they wish to pursue are notifiable or not, the Commission encourages such stakeholders to seek an advisory opinion from the Commission before proceeding with the implementation of a transaction,” it added.
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