Country Bird Buys Stake In Rival

South African poultry producer Country Bird Holdings has announced that it has made a 13.4% equity investment in rival Sovereign Food Investments worth ZAR23.6mn (US$2.7mn). Country has played down talk that the investment is a prelude to a larger investment in its rival and has instead shifted focus to the deal's strategic significance. It should allow Country to broaden its geographical footprint and perhaps most importantly, integrate the diverse markets the firms service. BMI highlights that poultry comfortably surpasses both pork and beef as South Africa's most widely consumed meat. Through to 2013, we have forecast poultry consumption to increase

To read the full article, please choose one of the following options: