Clover: Israeli link meeting resistance
On paper, bid to build food-brands hub would have been boosted by Milco’s plans to accelerate sales and efficiency
The market is nervously considering the implications of empowerment company Brimstone’s decision to review its role in the much-awaited takeover of local dairy giant Clover. Last week Israel-based Central Bottling Company (CBC), owner of a wide range of beverage brands, pitched a R4.8bn takeover deal for Clover via the newly formed Milco consortium. Milco breaks down into lead investor International Beer Breweries (IBB), with Sub-Saharan food and beverages specialist IncuBev and Ploughshare Investments as junior partners (with stakes of 8.3% and 10.9% respectively). IBB is a subsidiary of CBC which, though Israel-based, has operations in Turkey, Romania, and Uzbekistan. International franchisers include The Coca-Cola Company, Carlsberg, AB InBev, the Müller Group and Diageo. Brimstone (with a 15% stake) and Clover’s management team (with a 6.3% stake) were also named as participants in the deal. On paper, Brimstone’s concerted effort to build a food-brands hub — with existing invest...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.