Cape Town - LISOF, a fashion design school and retail education institution, is to be acquired by STADIO Holdings Limited.
The 100% acquisition was announced on Thursday.
LISOF is a private higher education institution fully accredited by the South African Council of Higher Education and, by being the first institution to launch BA and BCom degrees in fashion in the South Africa, a pioneer in fashion education.
LISOF will retain its own brand, campuses, management and staff, but will share a common ethos and benefit from the synergies, infrastructure and shared services available in the STADIO Group.
STADIO started as a subsidiary of independent school group Curro, but was separately listed on the JSE in October 2017. It has a market value of almost R3bn.
STADIO intends to create a multiversity, a large, diverse institution of higher learning created to educate for life and for a profession, and to grant degrees, higher certificates and diplomas.
"Multiversity implies a diversity of knowledge with diverse institutions catering for the diverse and relevant needs of the South African market place. The concept of a multiversity further respects the uniqueness of every student," STADIO said in a statement.
STADIO has already acquired the SA School of Motion Picture Medium and Live Performance (AFDA), Embury Institute for Higher Education and the Southern Business School. In addition to LISOF, STADIO is currently in the process of acquiring Milpark, a higher education institution focussing on commerce and business related programmes.
“LISOF is a magnificent illustration of an organisation that provides students with the skill sets that are aligned with the needs of industries and companies”, says Dr Chris van der Merwe, founder of Curro and CEO of STADIO.
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