Local is lekker as the Le Roux’s take charge of the Stormers

The Stormers are proudly South African and proudly Western Province thanks to the Le Roux family.

The Le Roux family has become the majority owner of Stormers Rugby after acquiring the shareholding of Irish investor Ardagh Glass Packaging.

The family’s investment company, Fynbos Ekwiteit, was a founding member of the Red Disa Consortium that acquired a controlling stake in Western Province Professional Rugby in 2023.

Red Disa became the first private owner of the Stormers after securing a 71.5% percent stake in the professional rugby company. André van der Veen’s Marble Head Investments (2.5%) and Western Province Rugby Football Union (26%) control the remaining 28.5% percent.

The transaction included an initial R148 million investment to settle debt and stabilise professional rugby in the Western Cape.

Fynbos Ekwiteit and Ardagh were the only two investors in Red Disa, so with Ardagh’s exit via the purchase of its stake by Fynbos Ekwiteit, that now makes the Le Roux family the 100% shareholder of Red Disa.

Michiel le Roux  is a South African billionaire businessman and philanthropist who co-founded Capitec Bank. He was the bank’s inaugural chief executive officer (CEO) from 2001 to 2004 and later served as its chairman from 2007 to 2016.

Stormers chief executive Johan le Roux, his son, thanked Ardagh for its role in the original transaction.

“We thank Ardagh for their initial investment and for a history-making partnership,” said Le Roux.

“Ardagh shared our commitment to securing the future of the Stormers and professional rugby in Western Province. Together, we completed the first private equity transaction in the history of the Stormers and provided the stability needed to rebuild the business.

“They have been an important partner in that process and their contribution will always be recognised.”

The change in ownership strengthens the local control of the Stormers and continues the Le Roux family’s long association with rugby in the Western Cape.

Fynbos Ekwiteit is backed by the Le Roux family and the Fynbos Trust, founded by (Michiel) le Roux. Both Michiel and his son Johan le Roux are lifelong Stormers supporters, as are the rest of the Le Roux family.

(Johan) Le Roux was appointed Stormers chief executive in March 2024 to oversee the restructuring and commercial development of the professional rugby operation.

The family’s initial decision to invest was driven by the financial crisis that threatened the future of Western Province professional rugby. Johan le Roux said at the time that the prospect of liquidation was something he could not accept as a Western Province supporter. He echoed the sentiments of his father.

The Le Roux family’s increased investment provides further certainty as the Stormers continue to implement their long-term strategy.

This includes investing in the Western Cape’s leading schoolboy talent, strengthening the development pathway and bringing established Springboks back to the province.

Rising SA under 20 stars Riley Norton, Markus Muller and Yaqeen Ahmed, all schooled in the Western Province, is at the forefront of the Stormers ambiton to be the best club team in the world. Equally, their investment in iconic Springboks, who started their careers at the Stormers.

The returns of Siya Kolisi, Cheslin Kolbe and Wilco Louw form part of that strategy, while the Stormers have also increased their investment in young players through the Stormers Rugby Institute, Stormers Bolts and Stormers XXIII structures.

The Stormers’ majority ownership is now held by a Western Cape family with a longstanding personal and financial commitment to the team, to the city, the province and the country.

*The Men in Black are Back for the Stormers