WESTVILLE, SOUTH AFRICA — RCL Foods, one of South Africa’s largest food manufacturers, has acquired Sunshine Bakery Holdings Pty Ltd. from AFGRI Group Holdings. Financial terms of the transaction were not disclosed.
Founded in 2005 and based in KwaZulu-Natal, South Africa, Sunshine Bakery is one of South Africa’s largest independent baking companies. The company serves a diversified customer base in the retail and general trade channels through two regional bakeries in Durban and Pietermaritzburg, as well as through various baking depots across the province.
RCL said 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. The acquisition of Sunshine Bakery is expected to increase bread volumes in the RCL Foods baking network by 28%, RCL said.RCL was founded in 1960 as Rainbow Chicken Ltd. Today, the company employs more than 21,000 people and is 77.7% owned by Remgro, a South African investment firm.