Libstar in deal to sell consumer goods division as it doubles down on food
The food manufacturer aims to focus on its core food offerings, which generate more than 90% of revenue
21 February 2022 - 11:00
UPDATED 21 February 2022 - 14:09
Food producer Libstar, whose brands include Lancewood cheeses and Denny mushrooms, has entered into a deal to sell off its underperforming household and personal care division for as much as R217.3m, part of its strategy of shifting its focus to growing its core food offerings.
Libstar has a portfolio of more than 9,000 products with more than 90% of its revenue generated from food, but the sheer complexity of the group has drawn criticism, while its consumer goods division has been a drag on earnings...
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