Bowcalf gains little from investment in bottling operation
PLASTICS packaging group Bowler Metcalf (Bowcalf) has seen little fizz in the first-year performance from its newly created investment in soft-drink bottler SoftBev. In 2014, Bowcalf merged its Quality Beverages soft-drink bottling operation with Shoreline to create a R1bn a year soft-drink operation producing niche brands such as Jive and Coo-ee. Bowcalf took a 43% stake in SoftBev. In the year to end-June results, Bowcalf admitted time frames for project implementations at SoftBev were ambitious, noting delays in the recently won Pepsi bottling deal and Western Cape production as well as a late start to the manufacturing of fruit juice brand Capri Sun. A divisional breakdown showed SoftBev managed operating profits of R9m, with only R1.2m attributable to Bowcalf. However, Bowcalf CEO Friedel Sass, who raised a flag over proposed sugar taxes for the soft-drinks sector, gave credit to the new national management team at SoftBev for "protecting the business brands through effective c...
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