1K Africa Portfolio Company Redsun Raisins Acquires RTE Snacks
Investment follows two previous acquisitions by 1K Africa announced in 2017
Cape Town, South Africa (August 29, 2017) –1K Africa, the U.S. private capital fund backed exclusively by leading families, announced that its first portfolio acquisition, Redsun Dried Fruit & Nuts (Pty) Ltd., has concluded an investment in RTE Snacks (Pty) Ltd. (RTE Snacks), a producer of healthy, ready-to-eat trail mix products.
Durban, South Africa-based RTE Snacks produces the popular “On The Go” trail mix range, which is available nationwide through retailers including Clicks, Food Lover’s Market, Spar and Dis-Chem. The acquisition serves to boost the retail reach of Redsun, which processes and exports high quality raisins produced along the shores of the Orange River.
“This investment changes the game for Redsun by giving it extensive local retail reach while at the same time opening additional export opportunities for On The Go, which is ideally positioned to capitalize on the busy, but health-conscious, lifestyle of the Millennial generation,” said Mr. Hendrik Jordaan, the President and CEO of 1K Africa. “It also forms part of our ongoing strategy to build Redsun into a diversified fruit and nut producer with multiple market access points.”
RTE Snacks was launched in 2009 by the husband-and-wife team of Andrew and Rudene Brown, who together have more than 20 years’ experience in the FMCG (Fast Moving Consumer Goods) space. The On The Go trail mix range uses unique combinations of dried fruits, nuts and seeds – including exotic and luxurious ingredients such as papaya, edamame, ginger and goji berries – to cater to healthy and active lifestyles.
The investment by 1K Africa’s Redsun Raisins in RTE Snacks follows two other acquisitions announced by the private capital fund this year. In November, 1K Africa announced an add-on acquisition to its beef protein platform, Beefmaster, through its investment in True Gentlemen’s Jerky, Inc., a healthy snack foods company. In August, 1K Africa also announced the acquisition of SanLeiTM, an export-quality trout producer located on the shores of the Katse Dam in the remote highlands of Lesotho.
About RTE Snacks
RTE Snacks produces a range of healthy, ready-to-eat trail mix products for the domestic and international retail market, and is based in Durban, South Africa. Their popular “on the go” trail mix range is available from leading South African retailers including Clicks, Food Lover’s Market, Spar and Dis-Chem. Rite Snacks also has an extensive export network.
About 1K Africa®
1K Africa is a private capital fund designed to enhance the best of what private equity investment has to offer with the Intellectual Capital, Relational Capital and Financial Capital — or Three-Dimensional Capital® — of industry-leading families. For more information, please visit www.1kafrica.net.BACK TO ALL ARTICLES