Voluntary announcement: Logistics Division acquires cold chain business
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.