The investments have enabled Pamodzi Investment Holdings and former members of management to monetise their approximate 77% holding in Foodcorp, the group said.
BlueBay's R495.51 million, along with R30 million from Capitau sees both groups entitled to shareholdings of 44.44% and 4.56% respectively.
Management and staff invested an additional R111.92 million to increase their stake in the business to 51%, and control of the company, Foodcorp said.
A newly formed holding company called New Foodcorp Holdings will hold 100% of the shares of Foodcorp going forward.
Foodcorp also announced that it had purchased the minority interests in First Lifestyle Group, the perishable food products business acquired in 2007, and resulting in a fully streamlined ownership structure.
Justin Williamson, Group CEO of Foodcorp, said: "This transaction has many positives for Foodcorp at an operational level as it achieves several important objectives, including a simplified group structure, greater alignment of management and shareholder interests and streamlined decision-making.
"Pamodzi and certain former members of management had been looking to realise their investment in Foodcorp, and the transaction fully meets this objective.
"At the same time, current management had been looking to increase its ownership, and this transaction now provides management and the Share Trust with 51% equity control of the business," Williamson said.
Foodcorp said its core focus would be to create long-term value by expanding revenues and growing margins but also on de-leveraging the business.
For the year to 31 August 2009, revenues exceeded R6.3 billion with trading EBITDA of R645 million, reflecting a growth of over 10% year-on-year.
Anthony Robertson from BlueBay said: "We are delighted to be investing in Foodcorp and very excited about the prospects of the business.
"We are looking forward to a long standing strategic commitment with our new partners."
Foodcorp comprises a group of businesses involved in the production, marketing and distribution of food.
The group's product basket ranges from raw materials and staples to brands, including Nola mayonnaise, Yum Yum Peanut Butter, and Ouma rusks.
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
