Food producer Libstar, the maker of Lancewood cheeses and Denny mushrooms, has agreed to sell a controlling stake in its household and personal care businesses for R174.6m, as part of its strategy of focusing on its core food offerings.
The group, valued at R3.9bn on the JSE, has agreed to sell a 70% stake to boutique equity manager Pape Fund Managers, which have an option for full control, which would bring the total consideration to R217.32m...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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