Remgro is one of South Africa’s best-known investment holding companies with a strong presence in the financial, healthcare, consumer products, industrial, infrastructure, media, and sports industries.
Remgro’s roots started in the 1940s when Anton Rupert established the tobacco company Voorbrand.
Voorbrand was the forerunner of Rembrandt, which entered the South African cigarette and tobacco industry in 1948.
Rembrandt’s interests in the wine and spirits industry also date back to the 1940s when Rupert and D W R Hertzog founded Distillers Corporation.
In 1972, the overseas tobacco interests of Rembrandt were consolidated in Rothmans International, which was listed on the London Stock Exchange.
Since the 1970s, Rembrandt expanded its interests outside tobacco, wine, and spirits with investments in various other economic sectors in South Africa.
Among the new investments were banking and financial services, mining, printing and packaging, medical services, engineering and food interests.
During 1993, Rembrandt co-founded South Africa’s first cellular telephony company, Vodacom, which was eventually disposed of in 2006 by VenFin.
In 1995, Rembrandt and Richemont consolidated their respective tobacco interests in Rothmans International, at the time the world’s fourth-largest cigarette manufacturer.
In 1999 it merged these interests with those of British American Tobacco plc (BAT), the world’s second-largest cigarette producer.
Since then the investment in BAT was held through a joint holding company in which Rembrandt (Remgro’s predecessor) and Richemont held shares.
Following the restructuring, Rembrandt became a pure investment holding company.
The restructuring of Rembrandt was advanced further in September 2000 when the South African holding structure, consisting of four listed companies, was collapsed into two listed companies – Remgro and VenFin.
Remgro represented Rembrandt’s established tobacco, financial services, mining and industrial interests, while the telecommunication and technology interests were housed in VenFin.
During November 2009, Remgro and VenFin merged again, adding media and technology interests to the Group’s investments.
Johann Rupert, the eldest son of Anton Rupert, joined the Rembrandt Group in 1985 and is the current chairman of Remgro.
Remgro’s most valuable assets
Remgro has a diverse portfolio with investments spanning across the financial, healthcare, consumer products, industrial, infrastructure, media, and sports industries.
According to Remgro’s latest financial results, the company’s shareholdings have a net asset value of R89 billion.
A few of the company’s most valuable assets include Mediclinic, RMI, CIVH (which owns Vumatel and DFA), FirstRand, Siqalo Foods, RCL Foods, and Distell.
The table below provides an overview of Remgro’s investments and the value of these investments.
|Company||Shareholding||Intrinsic value (R million)|
|RCL Foods||77.1%||R6 029|
|Siqalo Foods||100%||R6 145|
|Air Products||50.0%||R3 979|
All the companies which Remgro owns
The image below provides an overview of all the companies which Remgro owns.