Today in Cape Town, South Africa, Synercore Holdings announced the acquisition of DC Food Ingredients (DC Ingredients), African Food Industries (AFI), Allmark Foods, Nfinite, C-Trade and InterAdmin. Each company will still function autonomously within the holding company, Synercore, with no change in executive management. With the acquisition, Synercore has created a platform for the companies to expand on their current value proposition by leveraging the synergies within the newly established group. The establishment of Synercore allows the individual businesses to focus on their core competencies, to the benefit of their customers within the food and related industries. Synercore was specifically set up as a core investment vehicle with the aim to allow ownership of different businesses within the food industry.
With the acquisition, Synercore has combined the skills and relationships within the individual companies with the aim to create the most competitive food innovation and ingredients supplier in Sub-Saharan Africa, both in terms of quality, cost and customer service.
“The acquisition of the individual companies by Synercore is an important and exciting mile-stone for each of the companies within our group, ultimately focused on better servicing our customers and expanding our customer base. Through this initiative we have created a sustainable but dynamic group and environment, where we will focus on ‘collective intelligence’ with a unique offering to the food industry in Africa. Each of the companies has a proud heritage which provides an excellent foundation for us to continue to build on, ultimately creating growth and sustainability within the Synercore group. The acquisition I believe is recognition for hard work and the loyalty of each individual that has helped build their respective companies over the years and an exciting new chapter in their already proud history. People invest in people, and through this venture we are proud to say that we have invested in the right people. The integration activities will not affect current operations and services delivered by the individual companies, and for now it’s business as usual,” says Dr. Tertius Cilliers, Managing Director of Synercore Holdings.
The acquisition price was not disclosed.