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Chubb acquires BBR Security

Chubb recently acquired the business and assets of BBR Security, one of South Africa's leading providers of residential alarm monitoring and other security services.

BBR was purchased from Super Group, a logistics company listed on the Johannesburg Stock Exchange, for a total price of R556,2m payable in cash and is subject to regulatory approval in South Africa which is anticipated in quarter one, 2001.

BBR is one of South Africa's top three providers of electronic security services. Intruder alarm installations, servicing and monitoring of its 92 000 connections are provided through a network of 11 nationwide branches and nine monitoring centres and supported by 1200 employees. Annual sales are approximately R265m.

This acquisition transforms Chubb into one of the market leaders in alarm monitoring and response services and creates a significant Chubb presence in all the country's major cities.

Robert Gasparini, Chief Executive of Chubb, commented: "With the BBR acquisition Chubb has converted its foothold position in South Africa into a stronghold. BBR is value-enhancing, strategically fits within Chubb's total security service proposition and brings a customer base of the highest quality."

Chubb Southern Africa's Managing Director, Phil Fourie, said the investment in South Africa by Chubb was a major show of confidence in this country's economy and future. "Our priority will be to take full advantage of the obvious synergies that exist between the two companies to improve our service levels and ensure that the customers of both reap the benefits of this new agreement."

Fourie added that the acquisition would not affect any customer agreements and that both companies would continue to operate as usual pending the outcome of Competition Commission and JSE Securities Exchange approval for the acquisition.

For details contact Chubb Southern Africa on tel: (011) 653 2500.

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