The Competition Commission has approved the sale of Forever Resorts to Benus Trade and Invest.
Forever Resorts South Africa is being acquired by Benus Trade and Invest, with the purchase being approved by the Competition Commission.
Forever Resorts owns several luxury spas and getaway locations around South Africa, including the iconic Warmbaths resort in Limpopo.
The resort is located in Bela Bela, north of Gauteng, and is known for its easy accessibility as an escape from city life.
It got its name from the natural hot springs found in Bela Bela, which can produce up to 22,000 litres of water per hour at 53 degrees Celcius.
Warmbaths features several accommodation options, including chalets and lodges that can accommodate any number of guests.
The prices depend on the time of year, with a two-bedroom chalet costing up to R3,470 per night during the peak season and dropping to R1,660 during the low season.
The property also has a hotel, where a two-sleeper room costs between R2,290 and R3,470 depending on the season.
Along with several accommodation options, the resort is open to day visitors on specific dates, with prices varying by season.
The resort has several luxury amenities, including a hydro and spa, children’s play areas, and a conference centre.
Its children’s play areas are particularly notable, with water slides and other activities offered to kids at the resort.
There are also several paid adventure activities offered at the resort, such as ziplining, trampolining, and ATV rides.
While Warmbaths is arguably the best-known asset in its portfolio, Forever Resorts owns nine resort properties, along with three lodges and several other properties scattered around the country.
Its resorts are located in scenic areas, away from large cities, such as Plettenberg Bay or near the Gariep Dam in the Free State.
The out-of-the-way locations also make the resorts suitable for eco-tourism, with many facilitating activities such as game drives and camping.
The resorts are also often equipped with various facilities, such as conference centres and wedding venues.
The Competition Commission recently approved the sale of Forever Resorts to Benus Trade and Invest without conditions.
“The Commission has recommended that the Tribunal approve the proposed transactions where Benus intends to acquire Forever Resorts SA, without conditions,” it said.
Eight resorts currently owned by Forever Resorts were previously owned by Aventura, a state-owned company.
Aventura sold these properties to Forever Siyonwaba Resorts in 2003, which then transferred the ownership to Forever Resorts.
Ultimately, Aventura was liquidated, with the majority of its properties taken over by Forever Resorts in 2003.
Benus is a small company with little online presence, and shares directors with Community Investment Holdings (CIH).
The Competition Commission said Benus is “a conglomerate operating in various markets including healthcare, information, communication and technology, power and energy, mining, logistics and infrastructure.”
“The Commission is of the view that the proposed transaction is unlikely to substantially lessen or prevent competition in any market.”
“The proposed transaction does not raise significant public interest concerns.”
The acquisition was part of several other transactions approved by the commission, including Resilient purchasing Mams Mall and the sale of the Bloed Street Mall.
The purpose of the commission approving these transactions is to ensure that businesses do not form monopolies or have unfair control over a particular market.
Therefore, large mergers and acquisitions are reviewed by the commission and may be denied if they could harm or deter other businesses in a similar industry.
The commission primarily enforces the Competition Act, which sets out the rules to ensure a fair and accessible business environment in South Africa.
