Rhodes Food Group, the leading South African food firm, has revealed it is acquiring the protein snacking business of RCL Foods for ZAR 30 million ($2.15 million).
Announcing the deal alongside its third quarter results, Rhodes Food Group said the newly acquired business, which produces protein snack foods for leading retailer Woolworths, would be integrated into Rhodes Food Group’s ready meals operation in Groot Drakenstein.
“The protein-snacking business is complementary to the snacking business acquired through Alibaba Foods in 2015”, Rhodes Food Group is quoted as saying.
The deal for RCL Foods’ snacking business follows Rhodes Food Group’s acquisition of wine and juice firm Pacmar and halal foods maker Alibaba in 2015, as well as the instant foods firm Packo in 2016.
Source: Rhodes Food Group / Food Business Africa