8 April 2005 TOP TEAM ARE SHAREHOLDERS IN FOOD PRODUCTS COMPANY The Lumko Trust has become a 30% shareholder in Savoury Food Industries (SFI). Lumko, an empowerment grouping comprising some of the country’s top business shakers and movers, includes JB Magwaza , who has been co-opted onto the SFI Board, and shareholders Professor Wiseman Nkuhlu, Eric Molobi and J J Njeke. ‘We see Lumko as being able to assist in identifying key new product opportunities in the rest of Africa as well as focusing on mass feeding programmes in South Africa,” says SFI managing director Peter Brierley. “We believe that the group’s individual expertise and influence and their combined business acumen, will add great benefit to the business.” The balance of the shareholding is held by a combination of management and funders. The empowerment deal was put together by Valbridge Trust, a company specialising in management buy-out’s/ buy-in’s, who recently negotiated the purchase of SFI from Unilever South Africa, by management. |