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RCL FOODS LIMITED - Voluntary announcement: Logistics Division acquires cold chain business

Release Date: 20/11/2019 16:12
Code(s): RCL     PDF:  
Wrap Text
Voluntary announcement: Logistics Division acquires cold chain business

RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
(“RCL FOODS")

VOLUNTARY ANNOUNCEMENT: LOGISTICS DIVISION ACQUIRES COLD CHAIN
BUSINESS

Shareholders are advised that the Logistics Division of RCL FOODS
(Vector) has entered into an agreement with Imperial Logistics
South Africa Group Proprietary Limited (“the Seller”) to acquire
certain assets and staff related to its cold chain business
resident within the Seller’s Consumer Packaged Goods business in
South Africa (“Transaction”).

The Transaction aligns with the long-term customer-centric
strategy of Vector and enables the consolidation of two separate
temperature-controlled distribution networks into one synergised
network. Vector has entered into agreements with key customers to
provide logistics services from the effective date of the
Transaction.

All relevant internal and regulatory approvals have been obtained,
and the Transaction is effective from 1 December 2019.

Durban
20 November 2019

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 20/11/2019 04:12:00
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