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June 17, 2020

South Africa’s Country Bird Holdings invests in local poultry peer Quantum Foods

Country Bird Holdings, the South African poultry group, has acquired a stake in local peer from investor Zeder Investments.

By Dean Best

Country Bird Holdings, the South African poultry group, has acquired a stake in local peer Quantum Foods Holdings from investor Zeder Investments.

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Zeder said it had sold its 32.1% stake in Quantum Foods to Country Bird for ZAR308m (US$17.9m).

The transaction, conducted by the investor’s wholly-owned subsidiary Zeder Financial Services, is effective from tomorrow (18 June).

Zeder acquired the stake in Wellington-based Quantum from South African food heavyweight Pioneer Foods in 2014, and has since restructured the business “following a turbulent period”, and listed the company on the Johannesburg Stock Exchange, according to a statement from the investor.

It added the “rationale for the disposal has less to do with the investment prospects of Quantum Foods, but rather more with the strategic investment objectives of Zeder”.

Zeder said the value of the “net assets comprising the sale shares” was ZAR188m as of the end of February, based on Quantum’s year-end results, while the “audited profits after tax attributable to the sale shares” was ZAR12m.

Country Bird Holdings is based in Bloemfontein, the capital of the Free State of South Africa, and owns the Supreme Chicken brand. The company was acquired by Synapp International in 2003, an investment firm headquartered in the British Virgin Islands.

Country Bird is also backed by Proterra Investment Partners, while the International Finance Corporation, part of the World Bank, holds a minority stake.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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