RCL Foods, the South African baking and groceries company, has added to its bread-making capabilities with the purchase of local firm Sunshine Bakery.
In an announcement to the Johannesburg Stock Exchange (JSE), on which it is listed, RCL Foods said Sunshine Bakery had previously been indirectly majority-owned by AFGRI Group Holdings. The purchase price was undisclosed.
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Established in 2005 by Daniel Anastasis, Sunshine Bakery, based in KwaZulu-Natal, is one of South Africa’s largest independent baking businesses. It serves the retail and general trade channels through two regional bakeries in Durban and Pietermaritzburg, as well as various depots across the province.
RCL Foods said the acquisition is in line with its strategy to “scale the value-added brands component of its portfolio and to expand the capability of its established baking business unit into new geographies”.
The company, owner of brands including Nola mayonnaise and Sunbake bread, outlined plans last September to separate three of its businesses – chicken, sugar and logistics – to focus on its grocery and baking assets.
In its announcement to the JSE, RCL Foods said the Sunshine Bakery deal will increase bread volumes in its baking business network by 28%.
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By GlobalData
