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Acquisition of Helderfontein Broiler Farm
QUANTUM FOODS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2013/208598/06)
Share code: QFH
ISIN: ZAE000193686
(“Quantum Foods”, the “Company” or the “Group”)
ACQUISITION OF HELDERFONTEIN BROILER FARM
Quantum Foods is pleased to announce that Quantum Foods Proprietary Limited, a wholly-owned subsidiary of the
Company, has entered into an agreement to, inter alia, acquire the entire shareholding in L P Buhr Boerdery
Proprietary Limited (“L P Buhr Boerdery” or the “Business), which is the owner of the Helderfontein Broiler Farm
(the “Transaction”).
L P Buhr Boerdery is a broiler chickens rearing business based in the Western Cape and has been a contract grower
to Quantum Foods for the last 25 years. The Transaction was entered into following the decision taken by the owner
of the Business to retire and in order to ensure an uninterrupted broiler supply chain in the Western Cape.
The Transaction will ensure that Quantum Foods is able to continue to serve its customer base in the Western Cape
and will provide a basis from which to increase volumes in the future.
The purchase consideration payable in terms of the Transaction is an amount of R53 million subject to certain upward
adjustments not exceeding an aggregate maximum amount of R3 million, including in relation to the value of stock
held by the Business as at the effective date of the Transaction, being 31 January 2021 (“Purchase Consideration”).
The Purchase Consideration will be settled in two tranches utilising available cash resources and/or existing financial
facilities of the Group.
Implementation of the Transaction remains subject to fulfilment or waiver of various conditions precedent which are
customary for a transaction of this nature, on or before 31 December 2020.
The Transaction falls below the threshold for categorisation in terms of the JSE Limited Listings Requirements and
this announcement is provided for information purposes only.
Wellington
2 December 2020
Corporate advisor and Sponsor
One Capital
Attorneys
Cliffe Dekker Hofmeyr Inc.
Date: 02-12-2020 11:31:00
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