14 December 2010

 

As of Tuesday 14 December at 09:00, Clover Group now trades as a listed public company on the Johannesburg Stock Exchange.

 

First proposed internally in 1996, the listing has been hailed by Chief Executive Johann Vorster as “the most significant event in Clover’s 112-year history”.

 

From its 1898 origins as a dairy cooperative in the Natal Midlands, Clover has evolved into a sophisticated, nationwide Branded Consumer Goods company. It is South Africa’s largest chilled distributor and one of its largest distribution companies overall.

 

With its considerable branded goods portfolio – especially beverages – Clover is consistently ranked amongst South Africa’s favourite homegrown companies, being one of just 17 Platinum Iconic brands nationally.

 

The company sees the JSE listing, and the resultant boost in capital and prestige, as “a cornerstone in Clover’s next growth phase”. 

 

It will help Clover to consolidate its market position while presenting opportunities for further acquisitions. It will also allow the company to better leverage its distribution capabilities and channel more resources into staff training, facilities, products and services.

 

Clover Group management are delighted by the demand shown in the newly-listed company’s shares, in the shape of investment heavyweights such as Coronation, Allan Gray and Sanlam, as well as global emerging market investor Fidelity. In early trade, Clover shares opened at R10.76.