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takealot.com acquires Superbalist.com

Today takealot.com, South Africa’s fastest growing online retailer has announced the 100% acquisition of Superbalist.com. Superbalist.com, a curated, design & apparel centered online retailer, focused on the millennial generation, was founded in 2010.

Speaking towards the acquisition, takealot.com founder Kim Reid said “We are super excited about the acquisition. The millennial generation is deemed to be the most powerful and relevant market on the planet and we have managed to acquire a business run by millennials, focused on millennials. They have a great team and we are going to have fun building the business together”.

Superbalist.com will continue to operate as an independent brand under its current management team, led by their Managing Director Luke Jedeikin. Speaking towards the opportunity of aligning itself with takealot.com, Luke commented“ We’re excited to have aligned with a partner that recognizes our unique culture and supports our vision and enthusiasm wholeheartedly. Takealot have built an incredible business. We’ve been admirers for a long time and know they are the best partner to help accelerate our growth. We look forward to unlocking the synergies.

Takealot.com sells millions products across 21 departments and through their acquisition of Mr Delivery (now the Takealot Delivery Team as of August 2017), in September 2011, is a leader in last mile home deliveries. The business recently announced an investment of USD100million led by Tiger Global Management for continued expansion in South Africa and sub-Saharan Africa.