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Clover gets Real
Clover SA has confirmed the acquisition of 100% of the equity in and shareholders' loans against The Real Juice Co Holdings from AVI Limited for R60 million.
"Shareholders are informed that all outstanding conditions precedent have been fulfilled and that accordingly the effective date for the transaction will be 1 October 2012," Clover SA said in a statement Wednesday, 5 September 2012.
"This acquisition is in line with our strategy to take advantage of our low gearing and strong cash generation to expand Clover's portfolio of value added and branded beverages products," commented Clover's Chief Executive, Johann Vorster.
"RJC enjoys strong brand recognition in the Cape region and we believe that efficiencies can be unlocked through Clover's extensive sales and distribution network."
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