South Africa food product manufacturer Famous Brands announced Monday that it has reached an agreement to acquire meat distributor Cater Chain Food Services, say reports.
Famous Brands will take a majority stake in the distributor, includes the acquisition of a plant in Johannesburg. Reports say Famous Brands has been pursuing acquisitions to replace outsourcing and move manufacturing in-house.
Financial terms of the acquisition were not revealed by the parties; the nation’s Competition Commission will have to sign off on the deal before it moves forward.
Full content: BDLive
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