Recent developments (2016 to present)
In November 2016, Barloworld and German company BayWa entered into a joint venture (JV) to expand their agriculture and materials handling operations in Southern Africa.[7]
In 2018, Barloworld Equipment had been the official Caterpillar dealer in southern Africa for 90 years.[8] In June 2018, Barloworld sold its Iberian equipment business to Tesa S.p.A. for $180 million.[9] Tongaat Hulett, a South African sugar producer, in February 2020 decided to sell its starch business to Barloworld for $351.10 million including debt.[10]
Barloworld's CEO Dominic Sewela announced that Barloworld would be exiting logistics in June 2020.[11] The company purchased its starch business Ingrain from Tongaat Hulett in 2020, and that year also purchased the Caterpillar dealer Equipment Mongolia. It continued to exit its motor retail business, selling the unit to NMI Durban South Motors.[12]
In 2021, the company announced that it planned to sell its logistics, leasing, and car rental businesses by 2022.[13]
In May 2022, Barloworld cancelled significant orders from Russia due to ongoing international sanctions.[14]
The company joined the World Coal Association in May 2022.[15] Barloworld Ltd. in August 2022 released a number of bonds that were related to goals related to the number of women in company leadership.[16]
In September 2022, Barloworld UK continued to operate the Barloworld UK Pension Scheme.[17] In November 2022, Barloworld was sued over accusations of racism and unlawful termination.[18]
In December 2022, Barloworld's car rental unit, Zeda, was listed separately on the JSE with a valuation of $260 million. The unit included the Avis and Budget rental brands. Barloworld said it would continue to focus on renting industrial equipment to mining and consumer-goods companies.[19]
In December 2024, Barloworld announced its intention to sell all of its ordinary shares to a new holding company - Newco - which was to be formed by two existing corporations, namely Entsha Proprietary Limited (a 100% black-owned South African entity) and Gulf Falcon Holding Limited (a wholly owned subsidiary of the Saudi Zahid Group). Entsha would own 51% of Newco, and Gulf would own 49%.[20]
As part of the Newco proposal, Barloworld was valued at R23.3 billion. Newco stated that it intended to continue operations under the Barloworld brand.[20]
