Clover (dairy)

Clover Industries Limited
Clover
Traded as JSE: CLR
Industry Fast-moving consumer goods
Headquarters Johannesburg, South Africa
Area served
 Southern Africa
Key people
Website www.clover.co.za

Clover Industries Limited produces and distributes (for itself and other fast-moving consumer goods companies) a range of dairy and consumer products in South Africa.

History

The dairy farm of Joseph Baynes at Nel's Rust, Natal, before 1903.The building is today a museum and a Provincial Heritage Site

In a series of meetings in 1898 in the Natal Midlands, a group of farmers agreed to establish a butter factory operated under co-operative principles, and adopted the name "Natal Creamery Ltd"; and the following year, Joseph Baynes opened the first butter factory in Natal on his farm, Nel’s Rust.[1]:7-8 Due to the absence of proper legal channels to register a co-operative, Natal Creamery Ltd was registered under the Natal Companies Act and H Blaker was appointed as the first chairman.[2]

A partnership between Natal Creamery Ltd and Joseph Baynes Ltd for the marketing of fresh milk in Durban, called Model Dairy broke up in October 1901. Natal Creamery Ltd began milk distribution in Pietermaritzburg in 1902, and in 1903 it was dispatching milk daily to Johannesburg and investigating the Johannesburg milk industry, taking over the Johannesburg Milk Supply Company Ltd in 1908.

In 1923 Natal Creamery Ltd was registered under the Co-operatives Societies Act of 1922, and by 1932 Natal Creamery Ltd was operating in 32 centres countrywide. When the operation of a 100% co-operative style system was approved in 1934, the name was changed to National Co-operative Dairies Ltd.

Clover S.A. (Pty) Ltd was established on 10 December 1993,[3] forming a joint venture partnership with Compagnie Gervais Danone (Danone) in 1995. A holding company for Clover S.A. (Pty) Ltd – Clover Holdings Ltd – was established in 1997, and the following year Danone and Clover S.A. (Pty) Ltd formed the Danone Clover (Pty) Ltd joint venture.

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. Ordinary shares exercised control and preferential shares made freely tradable. Clover S.A. (Pty) Ltd and Danone formed the Clover Danone Beverages Ltd joint venture.

In 2004, Clover Holdings Ltd was unbundled, with Clover Industries Ltd becoming 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, and in 2005, Hosken Consolidated Investments Ltd acquired a 25,1% shareholding in Clover Industries Ltd as a BBBEE partner.

In 2006, Clover S.A. (Pty) Ltd and Fonterra Ltd of New Zealand formed the Clover Fonterra Ingredients (Pty) Ltd joint venture, and in 2007 Hosken Consolidated Investments Ltd, the BBBEE partner, exercised its option to increase its ordinary shareholding to 34,9% and Clover S.A. (Pty) Ltd bought 39,8% of the shares in Clover Danone Beverages Ltd from Danone. The company’s name was changed to Clover Beverages Ltd.

In 2008 Danone Clover (Pty) Ltd acquired a 70% interest in Mayo Dairy (Pty) Ltd, and the following year Danone Clover (Pty) Ltd underwent deconsolidation/recapitalisation. In 2010 Danone Clover (Pty) Ltd was sold and a capital restructuring was undertaken, and the same year saw the removal of the condition that only milk producers may hold ordinary shares and de-linking the ordinary share from milk supply, and the repurchase of 34,9% ordinary shares from Hosken Consolidated Investments Ltd, and conversion of preference shares to debt-only instruments. Clover Industries Limited was listed on the main board of the JSE Limited on 14 December 2010.

2011 saw the buy-out of the non-controlling interest in Clover Beverages Limited and the subsequent transfer of the non-alcoholic beverages business to Clover SA, and in 2012 the company bought the Real Juice Co. Holdings (Pty) Ltd from AVI Limited and acquired the minority interest in Clover Botswana (Pty) Ltd and Clover Manhattan (Pty) Ltd.

Corporate social investment

The Clover Mama Afrika[4] project was established in 2004. The goal was to give South Africans from disadvantaged communities back their pride and livelihoods.

References

  1. ↑ Cook, R. Brougham (1922). "Chapter II - Co-Operation and the dairy farmer". Guide to dairying in South Africa. London, Beccles: William Clowes and Sons.
  2. ↑ "Clover celebrates successful era". Volksblad. 17 March 1999.
  3. ↑ CILLIERS, JAN (12 December 2003). "NCD nou maatskappy". Landbou Weekblad (in Afrikaans). Retrieved 8 July 2013.
  4. ↑ Clover Mama Afrika Official Website

External links