Advertise with fastmoving.co.za
 
 

Meatco acquires stake in UK firm
Meatco acquires stake in UK firm

Meatco acquires stake in UK firm

FMCG SUPPLIER NEWS

Namibian.com.na - Jun 11th 2014, 11:06

Meatco, the country’s leading beef producer, has acquired a 25% shareholding in Global Protein Solutions (GPS), a UK-based meat trading company. 

GPS is a protein marketing and trading company, with its head office in London.

Meatco said in a statement yesterday that GPS possesses unique and specialised skills in terms of marketing a wide range of protein products on a global scale.

“Meatco entered into a Service Level Agreement with GPS in 2008 to complement Meatco UK’s core team. GPS brought a group of expert global traders, specialising in supply chain infrastructure, market development knowledge and global sales and marketing experience, to the group,” the statement said.

Since signing the agreement in 2008, GPS has assisted Meatco in the development of new products, specifications and production efficiencies, EU ethical, global industry dynamics, marketing, administration and sales.

“They have helped the corporation move from a production-led, commodity-based marketing approach to a market-led, niche supplier of high value, differentiated products. This has seen returns from international markets increase substantially,” the statement said.

The purchase of 25% shares in GPS is part of Meatco’s overall strategy to further integrate into the entire value chain to increase cost efficiencies across the business, Meatco said.

GPS operates on a global scale and this not only provides Meatco guaranteed access to these trading and marketing skills, but will also result in additional cash inflows into the corporation from activities outside our borders.

“The purchase of shares in GPS is the beginning of a new era for Meatco,” said Meatco chief executive officer Vekuii Rukoro. “It makes it possible for us to access earnings from the trade of other sources of protein internationally, while giving us improved security over critical resources we need to ensure continuous growth for the future".From Namibian.com.na 

Read more about: namibia | meatco | london | global protein solutions |

Related News

Profits fall at Aldi UK but continuing expansion drive
18/09/2019 - 10:35
Aldi’s British and Irish arm saw its profits fall by more than a quarter last year due to price cuts and investment in its infrastructure. However, the discounter reaffirmed its plans to continue its rapid expansion, with London now a key area of focus.

Multi-million rand Rustenburg Mall underway
09/09/2019 - 11:07
Rustenburg shoppers can look forward to a brand new shopping centre – Rustenburg Mall – set to introduce its first phase in April 2021.

Introducing the Cape Fine and Rare Wine Auction
23/08/2019 - 10:07
With the world market increasingly focused on the fine and rare wines from South Africa, the Cape Winelands is in a stronger position than ever to showcase its fine wine investments. This year, the Cape Winelands is proud to host its first-ever Cape Fine & Rare Wine Auction, an evolution of the historic Nederburg Auction in 1975.

Boost for SA's economy as China lifts its beef ban
07/08/2019 - 09:10
Within one month of the meeting between President Cyril Ramaphosa and President Xi Jinping at the G20, China has announced that it is lifting the ban on South African beef exports to China. This will be a major boost to South Africa’s economy given that China is the largest consuming market for South African beef and related products.

South Africa’s economy ‘doesn’t have a long time’
02/08/2019 - 12:57
South Africa’s outlook has been dealt several heavy blows following Eskom’s financial results, and the latest unemployment data, which has raised the question: where to from here?