SOUTH AFRICA – RCL Foods Limited is basking in recent achievements as it celebrates a prestigious accolade and a significant corporate milestone – The company’s Do More Foundation partnership was honored with the Standard Bank South Africa KZN Top Business Award in the Partnerships category.
The award recognizes the foundation’s impactful contributions to enterprise development in the Hammarsdale community.
The Do More Foundation’s Township Economy Programme is a pivotal initiative aimed at combatting poverty among youth and women.
By providing essential entrepreneurship training, practical business skills, and vital market linkages, the program empowers l
ocal individuals to leverage their community’s resources and build sustainable businesses. This award highlights the success of these collaborative efforts in fostering economic growth and development.
This news comes on the heels of success – RCL Foods has recently executed a major strategic move by spinning off its poultry production operations.
This restructuring led to the independent listing of Rainbow Chicken on the Johannesburg Stock Exchange (JSE) on June 26, 2024.
The initial public offering (IPO) involved the release of 890.3 million shares, priced at R2.85 each, approximately US$0.16 per share.
Rainbow Chicken, once part of RCL Foods, is now a standalone entity under the auspices of Remgro, the investment firm of billionaire Johann Rupert.
This strategic separation is set to boost RCL Foods’ sustainability by allowing the company to hone in on its core areas of expertise, while enabling Rainbow Chicken to operate independently.
Marthinus Stander, Managing Director of Rainbow Chicken, emphasized the significance of this transformation, noting that it marks a pivotal moment for the company, positioning it competitively within the industry.
Founded in 1960 as a small family business, Rainbow Chicken has grown into South Africa’s largest poultry producer.
With a revenue of R13.4 billion (approximately US$734.3M) in 2023, the company’s extensive infrastructure includes 165 farms, 1,288 poultry houses, and multiple processing and feed plants.
The spin-off is expected to enhance Rainbow Chicken’s market position and operational efficiency, setting the stage for future growth and success.
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