JSE-listed RCL Foods has concluded an agreement for the acquisition of Sunshine Bakery Holdings, which is indirectly majority-owned by agriculture services company Afgri.
Sunshine Bakery was established in 2005 by Daniel Anastasis. Based in KwaZulu-Natal, it is one of South Africa’s largest independent baking businesses.
It serves various customers, from formal retail and general trade channels, through two regional bakeries in Durban and Pietermaritzburg, as well as various depots across the province.
RCL says the acquisition is in line with its strategy to scale the value-added brands component of its portfolio and to expand the capability of its established baking business unit into new geographies.
It adds that the acquisition will increase bread volumes in RCL’s baking network by 28%.