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With growth of 10% year-on-year, Foodcorp is the third largest food company in South Africa with a strong focus on marketing and revenues of approximately R6 billion per annum. Foodcorp encompasses a successful group of businesses that produce and distribute a wide variety of brands to South African wholesalers and retailers, and export into Africa, Western Europe and the Far East.

Foodcorp has a product portfolio that is unique in its balance and diversity. It caters to both the South African mass consumer market, which makes up 70% of the total population, and high-end consumers. It includes raw materials, staple foods and many of South Africa’s most well-known brands. Foodcorp aims to be the most innovative food company in South Africa, developing new products and constantly refreshing its current brands through inventive packaging and intelligent marketing.

In March 2010, Foodcorp underwent a shareholder restructuring that simplified ownership and solidified its position in this highly competitive industry. Following the transaction, management and staff hold a 51% stake in the business, while BlueBay Asset Management, a UK based fund manager and Capitau SA Partnership, a South African private equity investor hold 44.44% and 4.56% respectively. Over 3000 employees own 23% of the business through the Share Trust, and 86% of these benefits go to previously disadvantaged persons.

Delisted from the JSE Limited in 1998, Foodcorp was the first SA corporate to refinance its business by raising €175m at 8,875% in the European high yield market in 2005. It did so again in 2007, when it acquired First Lifestyle by tapping the high yield market to raise a further €135m. Today, net debt of the company stands at around €280m with its high yield European bond coming to maturity in June 2012. The focus of the company is now exclusively on creating long-term value by expanding revenues and growing margins but also on de-leveraging the business.