OVERVIEW

CLOVER TIMELINE


1898		Farmers meet at Mooi River to discuss the establishment of a butter factory. At follow-up meetings the name Natal Creamery Ltd and co-operative principles are approved.

1899		Joseph Baynes starts the first butter factory in Natal on his farm Nel’s Rust. Due to the absence of proper legal channels to register a co-operative, Natal Creamery Ltd is registered under the Natal Companies Act, and H Blaker is appointed first Chairman.

1901		The first reference is made to Model Dairy as a partnership between Natal Creamery Ltd and Joseph Baynes Ltd for the marketing of fresh milk in Durban. This partnership breaks up in October 1901.

1902		Milk distribution by Natal Creamery Ltd commences in Pietermaritzburg.

1903		Milk is dispatched to Johannesburg on a daily basis and Natal Creamery Ltd decides to investigate the Johannesburg milk industry.

1906		Natal Creamery Ltd takes over the Johannesburg Milk Supply Company Ltd.

1908		Heilbron Government Creamery is established.

1923		Natal Creamery Ltd is registered under the Co-operative Societies Act of 1922.

1932		By 1932 Natal Creamery Ltd is operating in 32 centres countrywide.

1934		Natal Creamery Ltd converted to a co-operative called National Co-operative Daries Ltd.

1994		Clover S.A. (Pty) Ltd is established.

1995		Clover S.A. (Pty) Ltd and Compagnie Gervais Danone (Danone) join forces as joint venture partners.

1997		Clover Holdings Ltd is established to act as a holding company for Clover S.A. (Pty) Ltd.

1998		Danone and Clover S.A. (Pty) Ltd form the Danone Clover (Pty) Ltd joint venture.

2003		The conversion of National Co-operative Dairies Ltd from a co-operative to a public company took place during November 2003. A name change to Clover Industries Ltd was also approved during a series of special general meetings. The dynamics incorporated in Clover Industries Ltd in respect of ordinary shares exercising control and preferential shares being freely tradable, opens a new era for the Group. Clover S.A. (Pty) Ltd and Danone form the Clover Danone Beverages Ltd joint venture.

2004		Clover Holdings Ltd is unbundled. Clover Industries Ltd is the new holding company of Clover S.A. (Pty) Ltd, one of the largest branded consumer goods companies in South Africa, South Africa’s largest dairy company and one of the leading manufacturers and marketers of food products in South Africa.

2005		Hosken Consolidated Investments Ltd acquires a 25,1% shareholding in Clover Industries Ltd as a B-BBEE partner.

2006		Clover S.A. (Pty) Ltd and Fonterra Ltd of New Zealand form Clover Fonterra Ingredients (Pty) Ltd.

2007		Hosken Consolidated Investments Ltd, the B-BBEE partner, exercises its option to increase its ordinary shareholding to 34,9% and Clover S.A. (Pty) Ltd buys 39,8% of the shares in Clover Danone Beverages Ltd from Danone. The company’s name is changed to Clover Beverages Ltd.

2008		Danone Clover (Pty) Ltd acquires a 70% interest in Mayo Dairy (Pty) Ltd.

2009		Deconsolidation/Recapitalisation of Danone Clover S.A. (Pty) Ltd.

2010		Sale of share in Danone Clover (Pty) Ltd and capital restructuring. Removal of the condition that only milk producers may hold ordinary shares and de-linking the ordinary share from milk supply. Repurchase of 34,9% ordinary shares from Hosken Consolidated Investments Ltd. Conversion of preference shares to debt-only instruments. Clover Industries Limited listed on the main Board of the JSE Limited, on 14 December 2010.

2011		Buy-out of the non-controlling interest in Clover Beverages Limited and the subsequent transfer of the non-alcoholic beverages business to Clover S.A. (Pty) Ltd.

2012		Clover SA expands into Africa by: Acquiring 45% minority interest in Clover West Africa Acquiring 30% minority interest in Clover Botswana Acquiring 49% minority interest in Clover Manhattan Acquiring 100% of Real Juice Co Holdings from AVI Limited, turning it from a loss into a profit making business Clover acquires assets of Butlers Cheese

2013		The Clover Waters joint venture, in terms of which Clover owns 70% and Nestlé owns 30% is formed, expanding Clover’s portfolio of value added and branded beverage products. Clover is associated with global brands such as Nestlé Purelife and Nestea, which opens up opportunities in the sub-Saharan market.

2014		Clover Futurelife joint venture is established for a nutritional dairy based product, based on a 50/50 partnership. Various other initiatives are currently being explored.