Zimbabwe’s Innscor Purchases 59% Profeeds Stake

October 16, 2014

Co.’s Irvines chicken-breeding unit acquires holding in Profeeds, giving Innscor “virtual monopoly” in animal feed market, state-owned Herald reports, citing unidentified co. officials and Zimbabwe’s Competition & Tariffs Commission

* Innscor’s National Foods “merging” with Profeeds;
* Commission has received notification from Irvines of the purchase;
* NOTE: Innscor owns Spar retail licenses, pork producermColcom, feed miller National Foods, crocodile hide and meat producer Padenga, fast food outlets, in addition to Irvines. Source: Bloomberg