Clover Industries, the leading South African dairy firm, is the subject of a buyout bid by a multinational consortium, according to media reports. The bid, which values the company at 4.8 billion ZAR ($359 million), is being led by Israels’s Coca-Cola franchise Central Bottling Co, which owns 60% of the potential acquirer. Other partners include the South African investment firm Brimstone Investment. It is reported that, if the bid is …
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Clover Industries
Clover Industries, the South African food and dairy firm, has agreed to acquire 51% of the shares of olive oil producer Olive Pride, according to a report in Bizcommunity. Clover Industries is acquiring the stake from AECI Holding subsidiary Southern Canned Products (SCP), which will retain 49% of the business. According to reports, the transaction means Clover Industries will now be in charge merchandising, sales, marketing & distribution services for …
South African food manufacturer Clover Industries is to expand capacity for dairy production with the launch of a new 65 million (ZAR $5.9million) yoghurt production line at its plant in Bloemfontein, according to a report in FastMoving. The move was triggered by Clover’s dairy facility – acquired from DairyBelle earlier in the year – running out of capacity earlier than expected; according to FastMoving, Clover had expected the plant to …
South African dairy group Clover Industries is entering the soft drinks market with the acquisition of a majority stake in beverage firm Frankie’s Olde Soft Drinks. According to its website, Frankie’s Olde Soft Drink is a “micro” soft drink business “reproducing some of the favourite soft drink tastes of yesteryear” including Homemade Ginger Beer, Olde Style Root Beer, Original Cream Soda, Cloudy Lemonade and Cinnamon Cola. Johann Vorster, Clover CEO, …
Clover Industries has predicted a 20% rise in earnings per share for H2 2013. In a statement to the stock exchange, the South Africa dairy processor Clover Industries attributed the rise in earnings to reduced marketing spend , having heavily invested in product launches in the comparable period of the previous year. It also reported that it had been boosted by higher selling prices for its products. However, the company …
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