Seprod Limited Announces the Divestment of International Biscuits Limited (IBL)

• Seprod Limited (Seprod) today announced the divestment of its subsidiary, International Biscuits Limited (IBL), in alignment with the Group’s ongoing portfolio optimisation 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, noted that the transaction represents a deliberate and strategic step in aligning its portfolio with its long-term growth priorities. The move is also expected to support earnings growth as the company pivots from high-overhead, capital-intensive manufacturing of IBL to focus on its high-margin distribution network.
• Seprod's stock price has declined by 5.4% since the start of the year to close at $79.41 on Monday, March 2, 2026. At this price, it trades at a P/E of 13.1x, which is above the Main Market Manufacturing Distribution Sector average of 12.6x

 (Sources: JSE & NCBCM Research)