Seprod Limited (“Seprod”) today announced the divestment of its subsidiary, International Biscuits Limited (“IBL”), in alignment with the Group’s ongoing portfolio optimization strategy to enhance operational focus, strengthen its balance sheet, and deliver sustainable long-term value to shareholders.
International Biscuits Limited manufactures a portfolio of well-known products under its proprietary brands, including Butterkist and Snackables, and also undertakes co-manufacturing for third-party brands, including Ovaltine and Miss Birdie.
Under the terms of the transaction, Seprod, through its distribution subsidiaries, will continue the local distribution of products manufactured by IBL. All existing export partnerships remain unchanged, ensuring continuity of supply and service across key regional and international markets.
Richard Pandohie, Chief Executive Officer of Seprod Limited, commented: “This transaction represents a deliberate and strategic step in aligning our portfolio with our long-term growth priorities. We are sharpening our operational focus, strengthening our balance sheet, and preserving strong commercial partnerships that support our broader manufacturing and distribution platform.”
The transaction takes effect immediately. Seprod and IBL’s new ownership are working collaboratively to ensure a smooth and seamless transition for customers, suppliers, employees, and other stakeholders.
