Rhodes Food Group intends acquiring instant food maker Pakco, whose brands include Bisto gravy and Trotters jelly, in exchange for shares valued at R200m.
Rhodes said buying Durban-based Pakco would help it to enter the “dry-packed products” market in which it is not yet a player.
Pakco also makes canned foods — sold under the Gold Dish brand — and salads and pickles, which Rhodes said in Tuesday’s statement would enhance its product range.
Rhodes said Pakco owned valuable brands which are well known and used by consumers, and it believed it was well positioned to improve Pakco’s volumes and profitability in the medium term.
In the “dry packed meal solutions” category, Packo’s brands include Southern Coating and Buffalo besides Bisto.
Its dry packed desserts include Hinds and Trotters.
By Robert Laing
Cécile Béliot has assumed the role of Bel Group chief executive officer, following the decision to separate the roles of chairman and CEO. The separation of the functions will enable Bel Group to develop in three areas of healthy snacking. Meanwhile, the company’s former CEO, Antoine Fiévet, has had his mandate renewed as chairman of the board.
US Food and Drug Administration (FDA) Commissioner Dr. Robert Califf was grilled by lawmakers during a House Appropriations subcommittee hearing, where he was slammed over the agency’s handling of the escalating infant formula shortage.
Sweegen is ramping up its efforts to reduce sugar across F&B applications while simultaneously tapping into the benefits of using antioxidants and bitter blocking technology. Speaking to FoodIngredientsFirst, Casey McCormick, vice president of global innovation at Sweegen, says product developers can find a broad range of solutions in Sweegen’s nature-based sweetener systems as brands elevate better-for-you foods.