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NatFoods confident of Profeeds tie-up

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Food-processing giant National Foods Holdings Ltd is confident it will push through its tie-up with stockfeeds producer Profeeds in the next few months. It is envisaged that NatFoods and Profeeds will each sell their respective stock feed manufacturing assets and lease immovable property to the new company African Feed Mills Private Limited. The new entity valued at more than $10 million is expected to maximize on efficiencies and strategically position itself for competition from Agrifoods and Blue Ribbon Industries. African Feed Mills will operate as a separate unit with Natfoods taking up a 40 percent stake in the new company and Profeeds the remainder. Natfoods CEO Michael Lashbrook said that the company is tying up the loose ends before the deal is completed. – Sundaymail

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