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Benchmark International successfully facilitated the acquisition of Incanda Furniture (Pty) Ltd by Wheco Holdings (Pty) Ltd
September 17, 2024
Benchmark International is proud to announce the successful facilitation of a majority sale of Incanda Furniture (Pty) Ltd to Wheco Holdings. This transaction marks a significant milestone in the furniture and homeware sector, bringing together two distinguished players in the South African market.
Founded in 2006, Wheco Holdings is a diversified powerhouse with a focus on consumer goods, particularly in furniture and homeware. With a strong national retail presence and an expansive e-commerce and wholesale operation, Wheco stands as a leader in its field.
Incanda Furniture, established in 2000, has carved a niche in manufacturing high-end, hand-made furniture from natural materials such as solid wood and genuine leather. Operating from its world-class factory in Paarl, Incanda has been a beacon of local craftsmanship and sustainable practices.
Gerhard van Deventer, founder of Incanda Furniture, commented on the acquisition: “Partnering with Wheco Holdings aligns perfectly with our vision and goals. Their expertise in scaling businesses is impressive. Throughout this acquisition, Benchmark International was instrumental in guiding my team and me, providing invaluable advice and support at every step. This partnership is a significant leap for Incanda, advancing our dedication to quality and innovation, while maintaining our core values.”
Werner Greeff, Director at Wheco Holdings, commented on the acquisition, saying, “We are excited to integrate Incanda Furniture into the Wheco family. This acquisition aligns perfectly with our strategic goals of vertically integrating our supply chain and targeting the home furniture space through a multi-brand approach. We believe the combination of Incanda's locally crafted, high-quality leather and solid wood furniture, alongside Cielo's extensive range of local and imported products, creates a powerful synergy that enhances our ability to offer a diverse and comprehensive selection to South African consumers, supporting our goal of becoming a leader in the home furniture market. Working with Gerhard and the Incanda team, we aim to leverage these synergies to grow our business and make a positive impact both locally and beyond.”
Tiaan Smit, Transaction Director at Benchmark International, stated, "It has been an absolute pleasure working with Gerhard and the team at Incanda. The business attracted significant interest, and we are confident that it has found the ideal home with Wheco Holdings. The synergy between the two companies is evident, and we eagerly anticipate the exciting developments this union will bring. We at Benchmark International wish Wheco Holdings and Incanda Furniture every success in their future ventures, confident they will continue to achieve remarkable milestones."
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