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Astral sells 50% interest in bakery business

4 Jun 2012

Poultry producer Astral Foods (ARL) on Thursday, 31 May 2012, said it had successfully sold its 50% interest in its bakery business to Fedoha Proprietary for R96 million.

Astral was in a bakery joint venture with East Balt of Africa LLC.

"The decision to dispose of the interest was made due to bakery activities being non-core to the activities of Astral Foods‚" it said in a statement.

East Balt SA operates two industrial bakeries in Gauteng and the Western Cape‚ producing primarily hamburger buns sold to fast food outlets in SA.

Source: I-Net Bridge

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