Santova acquires Seabourne Group, expands European logistics footprint

Santova Limited has finalized the acquisition of 100% of Seabourne Group Limited for a total consideration of £17,034,500, with potential for additional payments based on future performance. The transaction, initially announced on February 11, 2025, and subsequently renewed, will enable Santova to offer strategically located fulfillment centers in the Netherlands and the United Kingdom, enhancing its e-commerce capabilities. Seabourne's tangible net assets being acquired are valued at £1,937,016, and the profits attributable to those assets are £3,691,237 pre-taxation. The acquisition will be funded through a combination of internal cash reserves and a R60 million loan facility. With the completion of the deal, Santova has withdrawn its cautionary announcement regarding the transaction, and shareholders no longer need to exercise caution when trading the company's shares. The vendor for the transaction is Seabourne Holdings Limited, owned by Daniel Flitterman and CJ Bourne.