SOUTH AFRICA/MALAYSIA: Golden Hope buys Unilever brands
Malaysian oils and fats group Golden Hope Plantations has acquired two major brands in South Africa through its wholly-owned South African subsidiary, Hudson & Knight (Pty) Ltd, in its effort to be a leading global player, according to the Malaysian news agency Berhama.
The company said the two household brands, "Crispa" - a premium frying oil and "Holsum" - stearin-based white frying fat, were acquired from Unilever South Africa Foods (Proprietary) Ltd for 8.4m ringgit (US$2.2m) and an amount equal to the value of stock at hand estimated to be approximately 3.01m ringgit.
The acquisition of the two brands provides opportunities to the company to achieve further inroads into Africa and other countries as it gives instant access to new markets as well as added revenues via existing sales.
Golden Hope plans to take advantage of the brand's current positions to penetrate African markets with new palm oil-based products.
The agreement was signed in Durban, South Africa on 7 April and with the signing, Hudson & Knight has acquired the trade mark for "Crispa" in all countries where it is available and the "Holsum" trademark in all countries except West Africa.
Hudson & Knight has also acquired the intellectual property rights and copyrights to artwork and designs on packaging and advertising materials, finished goods inventory and customer lists, among other things.
The acquisition of both brands is part of Golden Hope's overall efforts to develop its oil and fats downstream business following the acquisition of Hudson & Knight and the government-backed 3.7bn ringgit rationalisation exercise with Island and Peninsular Bhd last year.
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