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. Source: BD Live