KZN meat firm on JSE market

2008-01-15 00:00

The KwaZulu-Natal-based meat retailer and food processor Best Cut Limited yesterday listed on the JSE’s Development Capital Market, hot on the heels of the group having concluded a Broad Based BEE transaction.

Best Cut Limited will be coming to the market via a reverse listing into the Integrear cash shell and this will mark the first listing on the JSE of a vertically integrated meat business.

The group will now apply to have its listing moved to the JSE’s AltX to benefit from the junior market’s enhanced tradability.

Armarium Corporate Finance, the promoters of the Best Cut listing, concluded the Broad Based BEE transaction.

StratEquity, a subsidiary of Stratcorp Limited, which has a subscription base of 55 000 formerly disadvantaged individuals, has invested R20 million in Best Cut Limited. The investment is being paid in full from the BEE investors’ own funds.

The founder of the Best Cut Group, Alexis Steenkamp, who remains a shareholder and part of the listed entity’s management team, sees the group’s new BEE status as critical in facilitating the expansion of the company’s products into the Gauteng area.

Steenkamp says Best Cut is poised to benefit from the huge opportunity in extending the distribution of its processed meats — which account for 49% of the group’s profit.

Best Cut owns butcheries and meat-processing factories in KZN and retails its branded products through the major supermarket retail chains countrywide. The group’s customer base includes supermarket retailers like Checkers, Shoprite, Rhino Cash and Carry and the Spar Group.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.