Rhodes Food lists on the JSE - CNBC Africa

Rhodes Food lists on the JSE

IPO

by Trust Matsilele 0

Rhodes Food Group Holdings lists on the JSE bourse. PHOTOS: RFG/JSE

“The listing on the JSE will accelerate our group’s organic and acquisitive growth strategy, and unlock new business opportunities,” said Bruce Henderson, chief executive of Rhodes Food Group Holdings.

“Our existing businesses and brands have strong growth potential. Sub-Saharan Africa has some of the world’s fastest growing markets and is an area of particular focus. We believe there is significant opportunity for Rhodes, Bull Brand and some of our other brands to expand into this market.”

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Henderson says the listing will also enable the group to increase its investment in expanding production capacity and efficiency at its facilities in South Africa and Swaziland. 

Donna Oosthuyse director Capital Markets at the JSE said the listing will offer the much needed positive growth.

“The JSE is delighted to welcome [DATA RFG:Rhodes Food Group Holdings Limited] to our market. Many African economies are growing at a staggering pace, this is indeed good news and offers positive growth prospects for Rhodes Food Group with their expansion plans into Sub-Saharan Africa,” said Oosthuyse. 

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Rhodes Food Group is a producer of convenience meal solutions for distribution in Southern African and major global markets.

The group’s product range includes canned fruit, jam, vegetable and meat products, fresh ready-made meals, pies, pastries and dairy products.

Rhodes has a growing portfolio of strong brands, including Rhodes, Magpie, Bull Brand, Hazeldene, Portobello and Trout Hall. These brands are complemented by private label product ranges prepared for selected domestic and international retailers.

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