RCL Foods, which is controlled by Johan Rupert’s Remgro and is the JSE’s fourth biggest food producer by market capitalisation, has become the latest victim of the sugar tax, warning it will force a write down of more than R750m. 

The write down amounts to more than double the sugar business’s earnings before interest, taxes, depreciation, and amortisation (Ebitda) of R284.1m in the year to end-June 2018.

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