A PYMNTS Company

South Africa: Famous Brands takes a bit out of meat distributor Cater Chain

 |  December 9, 2014

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

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.