Malaysian palm oil producer Golden Hope has signed an agreement to buy an edible oils refinery in South Africa from Unilever Bestfoods Robertson for MYR69m (US$18.2m).

Golden Hope, which has a total of 133,000 hectares of plantations in Malaysia and Indonesia, said the purchase demonstrated the company’s ambitions to become a major player in the oils and fats business, reported Dow Jones International News. The deal represents Golden Hope’s first venture in Africa.

The refinery produces margarine and other fats and has an annual turnover of ZAR500m (US$71.8m).

After the purchase, the factory’s margarine output will be sold to Unilever Bestfoods, while the bakery fats produced by the plant will go to other food manufacturers.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.