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
Source: BDLive
Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.
The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.
The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.