The board of RCL Foods has given the green light for the spin-off and independent listing of Rainbow Chicken, its poultry and animal feeds business, in a decision that was first mooted three years ago.

This is welcome news for shareholders of the underperforming Remgro-owned consumer goods group, whose brands include Ouma, Yum Yum and Selati sugar. Rainbow, which was previously listed as an independent entity before becoming part of RCL (then Foodcorp), has come full circle and should stand alone on the JSE within months...

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