RCL FOODS said on Tuesday it will acquire Martin & Martin for R695m in a move that will see it diversify into the fast-growing pet food and pet care segments.
Martin & Martin produces and sells a portfolio of pet food and pet care products, including wet dog and cat food, biscuits, treats and pet care items marketed under well-known and trusted brands such as Husky, Pamper, Beeno and Bob Martin.
RCL FOODS currently has limited participation in the wet pet food and pet care categories, focusing on dry food. It said the proposed acquisition provides an opportunity to diversify into fast-growing segments such as wet foods, biscuits, treats and pet care products.
CEO Paul Cruickshank said the acquisition represents “an exciting opportunity to broaden our participation in the pet food category and accelerate our presence in high-growth segments where we currently have limited exposure. By bringing together the complementary capabilities of RCL FOODS and Martin & Martin, we are positioning ourselves to deliver greater innovation, relevance and value to customers, while building a stronger, more sustainable pet food portfolio for the future.”
Martin & Martin MD Brendan Hayes said, “joining forces with RCL FOODS would mark a significant milestone in Martin & Martin’s journey. We are excited about the strong synergies this partnership would bring, enabling us to serve the market with a broader range of innovative products. For our customers, this would translate into enhanced value and a shared commitment to quality and the future of the pet care category.”
RCL FOODS said no job losses or immediate changes for employees are anticipated as a result of the transaction. Martin & Martin will continue to operate from its existing facilities, ensuring continuity and stability for its workforce.
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