JSE firm buys 49% stake in Senn Foods

Wednesday, May 14, 2014

The S.A firm will pay P65 million for the minority stake in Senn Foods

RCL Foods, a company listed in the Johannesburg Stock Exchange (JSE) has received regulatory approval to buy a stake in Senn Foods Logistics, Botswana’s biggest cold chain distribution business.

RCL has agreed to spend 79.9 million rand (P66.5 million) for the 49 percent stake as part of its plans to scale up in sub-Saharan Africa and diversifying from its chicken business.

The acquisition will be done through RCL operating subsidiary, Vector Logistics.

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