South Africa: Rhodes Food Group to acquire Pakco
Rhodes Food Group, the South African food firm, intends to acquire 100% of instant food maker Pakco for shares valued at $14.6 million, according to a report in Business Day Live.
Rhodes Food Group is a food manufacturing company with brands such as Bull Brand, Bisto, Magpie and Squish and is active in categories including canned meat, pies and fruit puree drinks. The acquisition of Pakco will reportedly give Rhodes Food Group access to dry-packed products from brands such as Southern Coating and Buffalo, as well as dessert brands Hinds and Trotters.
Pakco also owns canned foods brand Gold Dish which offers a range of curries and meats.
Pakco owns valuable brands that are well known and used by consumers, and the firm believes it is well positioned to improve Pakco’s volumes and profitability in the medium term, Business Day Live reports Rhodes Food Group as saying.
Source: Business Day Live / Pakco