KAP buys into Brenner Mills

KAP International has entered into an agreement to acquire 60 percent of Brenner Mills for an undisclosed cash consideration.

The deal, which is subject to a due diligence and regulatory approval, includes a put and call option exercisable on July 1 2009 for the remaining 40 percent equity in the maize milling and dry foods packaging group, as well as a R36 million recapitalisation by all shareholders. - Margie Inggs