Rhodes Food will spend R350m in the 2018 financial year to, among other things, expand capacity at its pie and bakery facilities, and install clear juice concentrate plant at the Groot Drakenstein production hub to further vertically integrate the fruit juice operation. The group will also spend the money on consolidating production facilities acquired through recent acquisitions. It bought Pakco and Ma Baker, which are expected to be earnings accretive in the 2018 financial year. The businesses contributed R230m to turnover. Rhodes reported a 10.8% increase in turnover to R4.6bn for the year to October, lifted by strong growth from SA and sub-Saharan Africa where sales were driven by robust customer demand for canned meat and fruit juice. This accounted for 80% of revenue up from 73%.
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