Annique Health & Beauty (Pty) Ltd

The Directors of Spirit Capital (Pty) Ltd are pleased to announce the acquisition of a 50% interest in Annique Health & Beauty (Pty) Ltd.

Nature of business

Annique has supplied Rooibos based skin care, health care and body care products through a direct selling initiative throughout South Africa since 1971. The direct selling model offers a unique business opportunity to individuals who are looking to launch their own successful business using Annique’s patented formulations and award winning product range.

Rationale for transaction

The investment in Annique was made via Empowerment Opportunity Group (Pty) Ltd (“EOG”) in which Spirit is a 50% shareholder with Ernest Du Toit and represents EOG’s largest investment in the direct selling industry. EOG aims to develop a portfolio of investments in the direct selling industry and the transaction represents a perfect opportunity to execute its strategy.

Terms of the transaction

The terms of the transaction remain confidential.

January 2011 - Johannesburg

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