Innscor’s plans to dispose of its shareholding in refrigerator manufacturer Capri have been halted by the Competition and Tariff Commission (CTC) of Zimbabwe. Innscor is making a strategic move to focus on the manufacturing of consumer goods.

Innscor has a number of food manufacturing businesses, including National Foods Holdings Limited, Colcom Holdings Limited, Irvine’s Zimbabwe (Private) Limited, Bakeries, Appliance Manufacturing, Natpak (Private) Limited, Profeeds (Private) Limited and Probrands (Private) Limited. The company is involved in edible oils, meat processing, eggs, packaging.

It also owns fast food and bakery operator Simbisa Brands.

Innscor controls 50.1% in Capri through its investment vehicle Skitap, with the remainder owned by Catterson Marketing. According to a report in the Zimbabwe Independent, Innscor would swap its 50.1% shareholding in Capri for a 100% shareholding in Skitap. It would also sell 0.1% of its shareholding in Capri to Catterson Marketing, such that the companies held equal shares.

Innscor would then sell 50% of its shareholding in Skitcap to Mauritius-based investment holding entity SSCG Africa Holdings, thereby meaning Innscor had effectively sold a 25% shareholding in Capri. In 2019, SSCG Africa Holdings bought Edcon’s 41% stake in retailer Edgars Zimbabwe, which has 25 branches across the country as well as 25 Jet Stores, a micro-finance business and Carousel garment manufacturing factory in Bulawayo.