RCL Foods is unbundling its poultry business, Rainbow Chicken Limited, which will list on the Johannesburg Stock Exchange (JSE) under the name 'Rainbow' with the share ticker RBO. 🐓

The listing will take place on 26 June 2024 and RCL Foods shareholders will receive Rainbow shares in proportion to their RCL Foods shareholding. 🗓️

Rainbow is a fully integrated poultry producer with a long history (founded in 1960) and strong brand presence in South Africa. 🇿🇦

The company operates across the entire chicken production chain, including farming, processing, animal feed production, and waste-to-value solutions. ⛓️

Rainbow supplies chicken to major retailers and food service chains like Shoprite, Checkers, Woolworths, KFC, Nandos, and Burger King. 🍔

Financial Highlights: 📈

- Rainbow generated revenue of R13.5 billion in FY2023, an 18.3% improvement from the prior year.

- Revenue has grown at a compound annual growth rate (CAGR) of approximately 14.0% over the past 3 years.

- Rainbow delivered EBITDA of R38.6 million in FY2023, with EBITDA growing at a CAGR of approximately 60.2% from FY2021.

- Improved agricultural performance, cost control initiatives, and higher volumes are driving positive results.