Capitalworks invests in consumer food market

Rhodes Food Group currently has an annual turnover of approximately R2 billion‚ and prides itself on being the leading domestic producer of high quality prepared meal solutions‚ dairy products‚ pies and premium canned foods.

In terms of the deal‚ management of Rhodes Food Group will acquire a significant shareholding. This feature is a cornerstone of many Capitalworks acquisitions. Capitalworks applies a strong partnership principle in its acquisitions and has a track record of working alongside the management of the company to build exceptionally successful businesses.

Commenting on the transaction‚ Capitalworks partner Garth Willis‚ said: "With a history going back for over a century‚ Rhodes Food Group is an integral part of the South African landscape. We will be delighted to provide the strategic support that will strengthen one of the longer-established companies in South Africa."

Rhodes Food Group Managing Director‚ Bruce Henderson‚ says his Group looks forward to an era of dynamic growth in partnership with Capitalworks: "We have a proud history of providing quality meal solutions for a contemporary lifestyle. We are excited at the possibilities that this new partnership with Capitalworks will provide as we continually strive to achieve our vision to be the preferred supplier of quality food products."

Capitalworks founding partner and CEO‚ Chad Smart‚ elaborates further: "Rhodes Food Group will provide a welcome addition to our current portfolio of attractive investments in sectors such as building materials‚ affordable housing‚ recycling‚ healthcare and mining resources. We are confident that this latest investment will add further diversity to the vibrant mix that we have established in attractive growth sectors.

"We are particularly delighted to be investing in a sector that provides a direct link with consumers through the consumer food market. By adding value to the operations of Rhodes Food Group‚ we believe we will be making a contribution to the overall health of the South African economy‚" he added.

Rhodes Food Group is an internationally recognised food production company that has provided local and international markets with fresh quality products and premium brands for over a century.

Its well-known brands include Rhodes (canned and bottled jam as well as canned fruit and vegetables)‚ Magpie (pies and pastries)‚ Portobello (cheese)‚ and Hazeldene (jam).

With a history going back to the late 1800s‚ the Franschhoek Valley-based Group has grown rapidly from humble beginnings into a diversified food business. The Group runs several highly successful agricultural concerns and processing operations around South Africa‚ including the Ayrshire stud farm in Franschhoek‚ which supplies milk for its production of milk‚ cream and cheese.