The South African Competition Council has informed Milco that approval has been given for the international Milco SA consortium to buy dairy and soft drink company Clover.
The Milco SA Consortium is apparently ready to take over the Clover company, which is known for its dairy and soft drink products, in one of the country’s largest dairy business deals. Clover and Milco agreed not to lay down any staff for two years after the transaction as part of Clover’s long-awaited Project Sencillo, but the tribunal extended that period to three years. The planned retrenchments are part of phase two of Sencillo. Over the next five years, Clover wants to close some of its factories in order to better utilize its assets and thus save costs.
Three of Clover’s biggest points were included in the deal, which includes the Clayville plant in the Central Transvaal, the Queensburgh plant in Natal and the Port Elisabeth plant in the Eastern Cape.
