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CLR CLRP
CLR
CLR\CLRP - Clover Industries Limited - Clover S.A. Proprietary Limited
acquisition of the Real Juice CO. from Avi Limited
CLOVER INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/030429/06)
Ordinary Share code: CLR
ISIN: ZAE000152377
Preference Share Code: CLRP
ISIN: ZAE000152385
("Clover" or "the Company")
CLOVER S.A. PROPRIETARY LIMITED ACQUISITION OF THE REAL JUICE CO. FROM AVI
LIMITED
The Company`s shareholders are advised that Clover S.A. Proprietary Limited (a
wholly owned subsidiary of the Company) ("Clover S.A.") has entered into an
agreement in terms of which Clover S.A. will acquire from AVI Limited 100% of
the equity in and shareholders` loans against The Real Juice Co Holdings (Pty)
Ltd ("RJC") for a purchase consideration of R60 million.
Currently RJC is a leading producer of fresh fruit juices, nectars and
concentrates sold under the Quali and Real Juice brands in the Eastern, Western
and Northern Cape.
The transaction is subject to the approval of the South African Competition
Authorities in terms of the Competition Act no. 89 of 1998, as amended. The
transaction will become effective on the first day of the month following the
month in which such approval has been received.
Johann Vorster, Clover`s Chief Executive, commented: "This acquisition is in
line with our strategy to take advantage of our low gearing and strong cash
generation to expand Clover`s portfolio of value added and branded beverages
products.
RJC enjoys strong brand recognition in the Cape region and we believe that
efficiencies can be unlocked through Clover`s extensive sales and distribution
network."
ENQUIRIES
Clover Industries Limited +27 (0) 11 471 1702
Johann Vorster - Chief +27 (0) 82 462 0083
Executive
Manie Roode - Deputy Chief +27 (0) 82 466 7848
Executive
College Hill +27 (0) 11 447 3030
Frederic Cornet +27 (0) 83 307 8286
Morne Reinders +27 (0) 82 815 1844
Johannesburg
31 May 2012
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 31/05/2012 17:06:01 Produced by the JSE SENS Department.
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