South African food producer RCL Foods has agreed to acquire pet food brand Martin & Martin for R695 million as it looks to expand its footprint in the fast-growing pet care market.
JSE-listed South African food manufacturer RCL Foods is set to acquire the popular pet food brand Martin & Martin for R695 million to expand its presence in the pet care market.
Martin & Martin produces and sells a portfolio of pet food and pet care products, including wet dog and cat food, biscuits, treats, and pet care items under well-known, trusted brands such as Husky, Pamper, Beeno, and Bob Martin.
The sale will be complete, and the agreement will only become effective when the conditions of the agreement are met, which include the requirement of approval from the Competition Authorities.
“This acquisition represents an exciting opportunity to broaden our participation in the pet food category and accelerate our presence in high-growth segments where we currently have limited exposure,”
said RCL Foods CEO Paul Cruickshank.
“By bringing together the complementary capabilities of RCL FOODS and Martin & Martin, we are positioning ourselves to deliver greater innovation, relevance, and value to customers, while building a stronger, more sustainable pet food portfolio for the future.”
RCL Foods’ pet range currently consists mainly of dry pet food brands such as Bobtail, Canine Cuisine, Ultra Pet and Dogmor.
The acquisition that is on the cards for RCL Foods demonstrates the diversification of the brand into the growing market of wet pet foods such as canned meat, biscuits, treats, and pet care products.
The brand said the pet food sector presents an alluring growth opportunity, which is supported by strong consumer trends, including the “humanisation of pets” and the growing community of pet owners who wish to improve the quality and length of their pets’ lives.
“Joining forces with RCL FOODS would mark a significant milestone in Martin & Martin’s journey. We are excited about the strong synergies this partnership would bring, enabling us to serve the market with a broader range of innovative products,”
said Martin & Martin Managing Director Brendan Hayes.
“For our customers, this would translate into enhanced value and a shared commitment to quality and the future of the pet care category.”
RCL Foods said the proposed acquisition supports improving local production capacity and aims to grow Martin & Martin’s operations.
“Furthermore, by leveraging RCL FOODS’ extensive expertise and central business resources, our team would have greater opportunities to grow, innovate, and thrive within a larger, more diversified group,”
said Hayes.
The South African-based company, trading as Bob Martin, owns other popular pet food brands, including the dog food brands Husky and Beeno.
The company is owned by the privately held Simrose Overseas group, which signed the binding sale agreement with RCL Foods for R695 million.
Martin & Martin, trading as Bob Martin and Co, was founded in 1892 by Robert Martin who was 25 years old at the time, and his family.
“Since Bob Martin & Co. was established, our love of animals has guided us to make affordable and high-quality pet healthcare available to all families. This is why many of our products are household names – available online and in stores worldwide,”
said the Martin family.
The founder founded the brand after becoming increasingly concerned about pet dogs’ diets while working at a local vet clinic.
The adjusted earnings of Martin & Martin (before factors such as tax, depreciation, and interest) were R90.2 million for the 2024 financial year.
RCL Foods reported that no job losses are on the cards as a result of the transaction with Martin & Martin, and that there will be no immediate changes for employees.
Martin & Martin will continue to operate from its existing facilities, as the group said this would ensure continuity and stability for its workforce.
Source: Business Tech
