G.U.D. Holdings announce new acquisition

Founded in 2000, Indy Oil is an independent manufacturer and marketer of a wide range of automotive and industrial lubricants. Indy Oil trades nationally, with branches throughout the country, and has its blending facility in Kwa-Zulu Natal.

Red Shuttleworth, CEO of G.U.D. Holdings believes that, "This acquisition aligns with our strategy of being a leader in the manufacture and marketing of quality automotive products and allows for exciting future co-branding opportunities."

Trevor Pothecary, the founder and managing director of Indy Oil as well as other senior management will remain in the business. Trevor said that "Indy Oil has been very successful in growing its brand since its humble beginnings and he was looking forward to a further step change in the business with the backing and support of G.U.D. Holdings."

The transaction is subject to the successful conclusion of a due diligence procedure and the approval of South African Competition Authorities in terms of the Competition Act No. 89 of 1998, as amended.

G.U.D. Holdings (Pty) Ltd are leaders in automotive products, manufacturing and marketing the following brands in Africa: GUD Filters, Fram Filters and Safeline Brake Pads. G.U.D. founded BBEEE enterprise and social development entity, Filpro (Pty) Limited. Filpro is dedicated to the development and training of home and road side mechanics within the informal sector.