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Curro makes more acquisitions

Dec 14 2011 13:06
I-Net Bridge
Johannesburg - Curro Holdings [JSE:COH], the JSE-listed private schooling company, on Wednesday announced the acquisition of a further three private schools under the Meridian banner.

The three schools provide schooling to about 1 100 learners and are situated in Rustenburg, Pretoria and Polokwane.

The transaction amounts to about R25m and follows the group's announcement of the acquisition of Woodhill College in Pretoria East, a transaction that amounted to R185m - Curro's biggest acquisition to date.

While the acquisition of Woodhill College is still subject to approval by the Competition Commission, it is estimated that the two transactions will provide Curro with a total of about 12 000 learners in the new school year.

Curro Holdings CEO Dr Chris van der Merwe said that through the acquisition of the Meridian schools, Curro will attempt to make schooling even more affordable and classes will be bigger, as it believes the segment is a buoyant and all-embracing part of the market.

"With the acquisition of Woodhill College the Meridian schools the group's core business is beginning to change - in the past the group built its own schools, but the emphasis has now shifted to acquisitions, development and the operation of existing private schools.

"In future we will look aggressively to add well-established schools to our portfolio of private schools," Van der Merwe said.


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