The popular family business, Radermacher’s Garden and Home Centre next to the N2 just east of George, and its wholesale arm, Kraaibosch Nurseries, will go on auction at noon on Saturday 22 May.
End of an era
So why does a business with a wonderful track record go on auction after almost 30 years of success?
Co-owner Eric Radermacher was innitially unwilling to elaborate on the reasons for the sale, but yesterday released a media statement. The release merely states that the heirs of the late Tony Radermacher, who died in 2008, have decided to restructure the assests in the estate, and that there will be no piecemeal auction of stock. "The auction entails only the land and/or business entities as going concerns."
Rumour in town has it that apart from the negative impact of the recent drought, conflicting dreams and ideals of the late Radermacher’s five sons have apparently contributed to the decision to sell.
Radermacher senior and his wife Selina opened the centre in 1981 and built it into a thriving business.
In the late eighties they bought the surrounding land and turned it into Kraaibosch, one of the largest wholesale nur-series in the Western Cape.
Three auctions
Auctioneer Louis van Rensburg has been tasked to handle the auction and says the sale will be broken down into three sepa-rate auctions. "The first auction is of Kraaibosch Nurseries stretching over five pieces of land. The sale is of the land and all improvements. The second auction is of Radermacher’s and the same principle prevails. The last auction will combine the businesses and attempt to sell the six properties as a unit. The starting price will be the total of the two highest bids received for Kraaibosch and Rademacher’s added together."
Not a garage sale
Eric Radermacher has stressed that although it is a public auction, the merchandise and movable stock is not part of the auction. "Please don’t think that you can come and pick up basement bargains for your home or garden on auction day. No plants or other individual items will be put on auction - only the land and immovable property will be going under the hammer."
Stock
The buyer or buyers will have the option to purchase the stock at a predetermined value. Van Rensburg says this would be the preferred option as the businesses would then be sold as running concerns. "The job security of 250 employees depend on this."
Only if the buyer declines to do so, will the stock and other movable assets be sold piecemeal by the current owners.
No reserve price is placed on either concern, but the owners have 14 days to accept any offer.
Article: Ilse Schoonraad
Photos: Kelvin Saunders
The main entrance to Radermacher’s Nursery. It will be under the hammer on 22 May.
