Agribusiness investor Zeder disposes 32.1% stake in Quantum Foods for US$18m

SOUTH AFRICA – Agribusiness and food industry focused investment group, Zeder Investments has offloaded all its 61.6 million shares, representing 32.1% stake held in Quantum Foods Holdings Limited, a JSE-listed feed and poultry products firm to Country Bird Holdings Proprietary Limited (CBH). CBH is an integrated poultry and stock feed business with operations in South Africa, Botswana, and Zambia. According to Zeder’s statement announcing the disposal, the company has sold the shares at R5 per share fetching a total of R308m (US$18m). The value of the net assets comprising the…

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Pioneer Foods shareholders give nod to PepsiCo’s acquisition bid

SOUTH AFRICA – Shareholders of Pioneer Foods, owner of brands such as Sasko bread and Ceres juices have approved delisting the company and its acquisition after a US$1.7bn bid by soft drink and food multinational giant PepsiCo. PepsiCo – which owns food brands including Pepsi, Lays, Doritos and Gatorade – has been in the process of sealing a deal to buy Pioneer Foods since July. According to a statement issued by Pioneer, its shareholders constituting 99.57% of ordinary shares and 100% of class A ordinary shares have approved the deal,…

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Zeder shareholders to rip big upon completion of Pioneer Foods buyout

SOUTH AFRICA – Agribusiness and food-focused investment group Zeder expecting subdued value growth in the rest of its financial year, is set to return capital to shareholders and invest in new opportunities if the sale of its stake in Pioneer Foods, its food and beverage company goes through. The investment holding company has agreed to support US food and beverage giant PepsiCo’s R24.4 billion (US$1.7 billion) bid for Pioneer Foods. The deal, which will be PepsiCo’s biggest outside of the US market to date, forms part of the New York-based…

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Zeder Ltd financial report falls from harsh macro environment impact results

SOUTH AFRICA – Zeder Investments Ltd., the South African company that focuses on agri, food and beverage sectors said its financial results for the year ended 28 February 2018 was impacted by challenging macro conditions. Most of its portfolio companies including Pioneer Foods, Capespan, Zaad and Agrivision Africa reported losses from the impact. According to CEO Norman Celliers, many of these conditions, however, improved significantly during the latter part of the reporting period, boding well for a recovery of Zeder and its portfolio. Fin24 reported Zeder’s recurring headline earnings per…

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