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SAI Global Limited
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MEDIA & ASX ANNOUNCEMENT 21 November 2012 SAI EXPANDS ITS FOOD ASSURANCE ACTIVITIES IN SOUTH AFRICA
Sydney, 21 November 2012 - SAI Global Limited (ASX:SAI) today announced that it has entered into a Share Purchase Agreement to acquire 100% of Quality & Safety Risk Professional Services International Proprietary Limited, trading as "QPRO".
QPRO provides a comprehensive range of services, partnering with clients to successfully manage their food safety, quality and brand standards programs. QPRO is a leading provider of food safety auditing, microbiological testing and related services in Southern Africa. QPRO has an established track record of providing services to a blue chip client base in the retail, catering, hospitality and food manufacturing sectors.
This acquisition provides the following benefits for SAI Global:
• Technical capability, scale and credibility
• Capability to better service existing global accounts
• New global account opportunities
• Enhanced management capability and depth
• Elevation of SAI's South African operations from sub-critical to sustainable
Commenting on the acquisition, the Chief Executive of SAI Global Limited, Mr Tony Scotton, said "South Africa is a fast emerging agri-food market and important in supporting our global account strategy. QPRO gives us critical mass in South Africa and capability beyond what we can currently offer through our existing operation. He added "I am delighted to welcome Julie Woods, Philippe Fatzer and the staff of QPRO to SAI Global".
In commenting on joining SAI, QPRO Managing Director, Julie Woods said "We are thrilled to be joining SAI Global, a highly regarded and recognised company offering food safety assurance and certification services on a global basis. Their portfolio of services and global expertise will benefit our people and our customers alike."
Consideration for the acquisition is circa A$5.9M plus an adjustment for working capital. The acquisition is scheduled to complete at the end of November 2012 following satisfaction of customary conditions precedent.
About SAI Global (www.saiglobal.com)
SAI Global facilitates good governance and awareness of compliance, ethics and policy issues and provides training and improvement solutions to help individuals and organizations succeed. SAI provides organizations around the world with information services and solutions for managing risk, achieving compliance and driving business improvement. SAI also provides aggregated access services to standards, handbooks, legislative and property publications. SAI also audits, certifies and registers products, systems and supply chains.
About QPRO (www.myqpro.com)
Established in 2002, QPRO is a Cape Town, South Africa, based provider of audit and supply chain management services to the retail agri-food (R-A-F) industry. Specifically, QPRO's business model is to focus on generating recurring revenue from blue chip clients that include, amongst others, Coca-Cola, BP, Spar, Nandos, Shoprite Checkers, Shell and South African Breweries. The company provides audit, inspection and related testing services to the Retail sector.
Tony Scotton - Chief Executive Officer, SAI Global Limited +612 8206 6182, 0419 527 592
Geoff Richardson - Chief Financial Officer, SAI Global Limited +612 8206 6805, 0429 314 698
For further information please visit www.saiglobal.com.
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