Swaziland: SCC gives green light to merger

Mbabane / SZ. (scc) The Swaziland Competition Commission (SCC) has given green light to the merger between Swaziland United Bakeries (SUB) and Sinkhwa Semaswati (Mister Bread) with South Africa´s Premier Foods. The company will now be known as Premier Swazi Bakeries (PTY) Limited. The SCC said the Commission is satisfied with most of the components of the transaction. «We should be glad that we have an investor showing interest in the country at a time when the economy is not so good. Why would anyone want to chase away the investor?», asked Wayne Levendale, Managing Director of Mister Bread, after the Swaziland Consumer Association had said the transaction would not be in public interest. Blessedly the question is now answered and Premier Foods has bought its stake in the two local bakeries; a transaction worth over 100 million SZL – 11,1 million EUR (1,00 SZL = 1,00 ZAR fix). Premier Foods keeps staple food brands like «Blue Ribbon», «Iwisa», «Snowflake», «BB», «Super Sun», «Nyala», «Impala» and «Invicta». The group´s head office is situated in Isando near the OR Tambo International Airport. With 52 mills, bakeries, depots and distribution points in South Africa, Premier Foods employs over 3’000 people.