Press Release published on Business Live - 22 November 2011

Curro Acquires Woodhill College for R185m.

Curro Holdings, the JSE listed private schooling company, on Tuesday announced its biggest acquisition to date in the private schools market with the provisional take-over of Woodhill College, a private school in Pretoria East.

The transaction, amounting to R185 million, is subject to approval by the Competition Commission.

Woodhill College provides education to 1 200 leaners from Playschool to Gr 12.

Announcing the transaction Curro CEO Dr Chris van der Merwe said that apart from this being Curro's biggest acquisition to date, the Woodhill transaction is also of major strategic significance.

"Up until now Curro mainly focused on the affordable middle segment of the private schools market. With Woodhill there is now a strategic shift to the upper segment of the market.

"The result is that Curro's vision is now expanding to other segments of the market," Van der Merwe said.

The transaction will bring the number of leaners on Curro campuses to more than 10 000 compared to 5 530 about a year ago. The ultimate objective is to have at least 40 Curro campuses with 45 000 learners by 2020. This objective might be achieved earlier, given the potential for private schools in the country.

Van der Merwe said Curro would maintain its focus as a private schools group. The group will continually explore opportunities that can be sensibly incorporated into the group's vision and strategy. There are currently plans for the construction of six new schools countrywide.

While Curro envisaged at the time of its listing a composition of 17 Curro schools in total by 2013, this figure is now expected to be at least 20 schools.    

Curro has made good progress since 2009 with its vision to grow into the country's foremost private schools group. The group has enough drive to enter a new phase with representation in different market segments in the private schools market, Van der Merwe said.

 

View Woodhill College here.