Daybreak Farms buys Rossgro Chickens for R3m
Afgri, the JSE listed agricultural business, on Wednesday, 11 August 2010, said its subsidiary Daybreak Farms had entered into an agreement to acquire Rossgro Chickens for not more than R3 million.
Daybreak Farms is in the business of farming, slaughtering, processing and selling of chickens while Rossgro Chickens operates a chicken abattoir, processing and sales business.
Afgri said the acquisition was part of Daybreak Farm's growth strategy.
"It identified the business as a valuable asset which would enable it to immediately increase its existing capacity and in this way enable Afgri to be a more significant market player," the company said.