South African company to buy Kraft Lecol juice brands
July 19, 2007
by Eric Schroeder
NORTHFIELD, ILL. — Appletiser, a subsidiary of South African Breweries Ltd., has reached agreement to acquire the Lecol juice brands of Kraft Foods Inc. Financial terms of the transaction, which is expected to be completed by Sept. 1, were not disclosed.
Gerry Chandran, managing director of Kraft Foods South Africa, said the company’s decision to sell the Lecol brand reflected Kraft’s strategy to refocus its brand portfolio.
"While Lecol is a popular brand in South Africa, we want to focus our resources behind categories in which we can have a sustainable competitive advantage," Mr. Chandran said.
Boyce Llyod, chairman of Appletiser, said the acquisition would allow the company to consistently offer more niche brands to consumers.