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RCL FOODS LIMITED - Acquisition of 49% stake in Senn Foods Logistics (Pty) Ltd

Release Date: 07/03/2014 15:30
Code(s): RCL     PDF:  
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Acquisition of 49% stake in Senn Foods Logistics (Pty) Ltd

RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
(“RCL Foods")

ACQUISITION OF 49% STAKE IN SENN FOODS LOGISTICS (PTY) LTD

RCL Foods, through one of its operating subsidiaries Vector
Logistics (Pty) Ltd, has entered into an agreement to acquire a
49% shareholding in Senn Foods Logistics (Pty) Ltd of Botswana,
for P65.5m (R79.9m) (“the acquisition”).

Senn Foods Logistics is the largest cold chain distribution
business in Botswana and is involved in the distribution of dry,
frozen and chilled foodstuffs. The business currently represents
almost all of Vector’s principals in Botswana including Rainbow,
McCain, I&J and Fry’s as well as QSR customers Chicken Licken,
Nando’s, Spur and Wimpy.

The acquisition is in line with RCL Foods’ growth aspirations into
Africa and Vector’s long term strategy to extend its reach into
other African countries and offer world class logistics and sales
solutions to existing and future partners in these countries.

The acquisition is subject to regulatory approvals in Botswana and
South Africa.

Durban
7 March 2014

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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