Ethos Acquires a Majority Stake in AutoZone (Sub-Saharan Africa)

Source: Ethos Private Equity, Reuters | Author(s): Helen Nyambura-Mwaura

South Africa-focused fund manager Ethos Private Equity has acquired a majority stake in South Africa-based automotive parts retailer AutoZone. The transaction was structured through Ethos Fund VI. As part of the transaction, Ethos acquired the stake held by RMB Corvest, the private equity arm of Rand Merchant Bank and Zico Capital. Ethos intends to expand the business geographically. Financial details of the transaction were not disclosed.