A Corporate/M&A team from Baker McKenzie in Johannesburg advised Remgro-owned RCL Foods Limited, a leading South African food manufacturer, on the completion of the sale of its frozen logistics business, Vector Logistics Proprietary Limited, to a South African subsidiary of A.P. Møller Capital (APMC).

A.P. Møller Capital is a Denmark-registered fund management company and part of A.P. Møller-Maersk, one of the world’s largest shipping and logistics groups. South African-based Vector Logistics provides services including multi-temperature warehousing and distribution, supply chain intelligence, and sales and merchandising solutions. The finalised transaction (Project Mile) was valued at ZAR 1.25-billion.

The Baker McKenzie team was led by Corporate/M&A Partner Angela Simpson in Johannesburg and included Director Designate Janine Howard and Senior Associate Dominika Pietrzak.

Simpson commented, "The increase in growth in the middle class across Africa has led to a large uplift in consumer growth, which has driven increasing demand for respected consumer brands. Evolving with this changing market has allowed our client, RCL Foods, to fulfil its strategic vision to unlock sustainable growth and hone its focus on its core branded and private-label food products. The successful completion of this transaction has also allowed Vector Logistic to further accelerate its growth in the temperature-controlled logistics space in Africa, to the benefit of its stakeholders, including its customers and employees, which was important to our client. We are delighted to have advised our valued client on this significant transaction."

Learn more from our client here: Acquisition of Vector Logistics Completed - RCL FOODS