REGIONAL SALES
Rhodes Food turns to Africa for growth
Western Cape-based food producer Rhodes Food Group is deepening its growth in the sub-Saharan Africa region, as the international market is marred by uncertainty. Rhodes Food’s regional business accounted for 84% of total revenue in the six months to April as currency volatility and increased costs saw limited growth in its global business. "The relative size of international had been diminishing as we have grown the regional side of the business at a faster rate. So [with] our strategy to grow the core fast-moving consumer goods component of our business, we will reduce our exposure to the international part of the business," CEO Bruce Henderson said "We are proud and committed to our international business, we will always look to achieve growth in that segment. But that will be outstripped by growth in regional," he said. Over the past two years Rhodes Food Group has been on an acquisition spree, acquiring Pietermaritzburg pie maker Ma Baker for R212m and Durban food producer Pakc...
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