RCL Foods set to sell Vector Logistics for R1.25bn
CEO Paul Cruickshank believes the sale is important in reshaping the company’s portfolio.
29 March 2023 - 11:25
UPDATED 29 March 2023 - 11:27
Food and logistics group RCL Foods has agreed to sell its frozen logistics operator Vector Logistics to a local investment vehicle managed by European private equity fund manager AP Moller Capital for R1.25bn.
The effective date of the deal is July 3 and it will allow Vector Logistics — which generated just more than one-tenth of RCL Foods’ revenue in its latest interim results — to expand further afield to meet growing demand in Africa...
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