Zimpapers Logo

Tinashe Makichi : Business Reporter

National Foods Limited together with its partners in Pure Oil Investments are working towards growing the business. This comes after NatFoods acquired 40 percent of the group with Export Trading Group Tanzania and Parrogate Zimbabwe holding the remainder. Pure Oil are the producers of ZimGold cooking oil, which has since gained significant market presence since inception.“Regarding Pure Oil, our transaction was completed on April 1, 2016 after we secured approvals from the Competition and Tariff Commission approval. NatFoods now has an effective 40 percent share in the business.

“The business has a great base and we are excited about its prospects and our team is now working flat out with our new partners to further grow and develop the business,” said Mr Lashbrook.

Pure Oil Investments commenced full-scale production in December 2013 with $30 million having been injected. The company employs about 650 workers.

“The National Foods management are looking forward to further extending our category portfolio to the benefit of both our customers and our shareholders,” said Mr Lashbrook.

He added that Natfoods is in the process of upgrading products at its recently acquired Breathaway Food Caterers Limited, a snack and biscuit manufacturing company.

He said the Company is looking forward to see how the products from the snacks business are going to perform on the market.

“You may also know that effective April 1 this year we acquired BFC and this is a business that makes extruded snacks (Zapnax, Wings, Kurls and Shooters) as well as Iris biscuits.

“We are in the process of revamping and upgrading the products and looking forward to seeing how they perform in the market,” said Mr Lashbrook.