User:Discott/Imperial Cold Storage and Supply Company: Difference between revisions
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Revision as of 05:06, 28 September 2010
| 125px | |
| Industry | Food Processing |
|---|---|
| Founded | 1899 (1830)[1] |
| Defunct | 1998[2] |
| Headquarters | Cape Town, Cape Colony (1830-1910) Cape Town, Union of South Africa (1910-) |
Key people | David Pieter de Villiers Graaff, Co-Founder & Chairman Jacobus Arnoldus Graaff Co-Founder |
| Products | Meat, Dairy Products, Seafood |
Number of employees | 18,000 (1985)[3] |
| Subsidiaries | Over a hundred[1] |
Imperial Cold Storage and Supply Company (ICS) was one of the largest meat processing, storage, distribution and marketing companies in South African, dominating the South African packaged food sector for almost a hundred years. The company was formally registered and listed as ICS in 1899, originally it grew out of Combrinck & CO. which was founded in 1830 in Cape Town. Combrinck & CO. was then merged into ICS.[1] ICS was one of the largest meat processing and distribution companies in the world. The company originally concentrated on supplying ships, but would go onto developed the first cold-storage enterprise in South Africa in conjunction with the Union and Castle shipping lines. Sir David Graaff, 1st Baronet was a founder, chairman and major shareholder.
Rhodesian Operation
In 1924, the then government of Southern Rhodesia, now Zimbabwe, granted a ten year monopoly to the company. Enforced by act of government, it also guaranteed the companies operations in Rhodesia for the duration of its monopoly with an up to GB£15 000 per annum guaranteed against losses resulting from its operations. In return Imperial Cold Storage agreed to develop the country's chilled and frozen beef industry. In terms of the act's objective to establish a beef packing and processing industry in Rhodesia the government's partnership with Imperial Cold Storage was a success.[4]
Tiger Brands buyout
Due to the high costs of expansion in southern Africa along with a slump in the demand for meat following the great depression in 1934 the company was in serious financial trouble. More money was sought from investors to help shore up the companies finances. Anglo-American was the largest investor and the total capital of the company increased to GB£2.2 million (equivalent to £436,000,000 in 2010[5]). Anglo's share in the company would continue to grow as Imperial Cold Storage worked more and more with Tiger Oats, then a subsidiary of Anglo-American corporation.[6]
In March 1982 Barlow bought a considerable share of Tiger Oats and a controlling share in Imperial Cold Storage. In October 1998 Tiger Brands (then known as Tiger Oats Limited) bought out Imperial Cold Storage and the company was folded into its portfolio of brands and companies. [7]
References
- ^ a b c Brooke Simons, Phillida (2000). Ice Cold in Africa: The History of Imperial Cold Storage & Supply Company Limited. Cape Town: Fernwood Press. p. 55. ISBN 1 874950 50 4.
{{cite book}}: Cite has empty unknown parameter:|coauthors=(help); More than one of|pages=and|page=specified (help) Cite error: The named reference "ICS1" was defined multiple times with different content (see the help page). - ^ Brooke Simons, Phillida (2000). Ice Cold in Africa: The History of Imperial Cold Storage & Supply Company Limited. Cape Town: Fernwood Press. p. 246. ISBN 1 874950 50 4.
{{cite book}}: Cite has empty unknown parameter:|coauthors=(help); More than one of|pages=and|page=specified (help) - ^ Imperial Cold Storage annual report, 1985, p. 5
- ^ MLAMBO, A. S. (1996) "The Cold Storage Commission: A Colonial Parastatal 1938-1963". Zambezia (1996), XXIII (i). (p.57)
- ^ Measuring Worth, Relative Value of a UK Pound Amount - average earnings, retrieved on the 27/09/2010
- ^ Brooke Simons, Phillida (2000). Ice Cold in Africa: The History of Imperial Cold Storage & Supply Company Limited. Cape Town: Fernwood Press. p. 173, 221. ISBN 1 874950 50 4.
{{cite book}}: Cite has empty unknown parameter:|coauthors=(help); More than one of|pages=and|page=specified (help) - ^ Brooke Simons, Phillida (2000). Ice Cold in Africa: The History of Imperial Cold Storage & Supply Company Limited. Cape Town: Fernwood Press. p. 237-246. ISBN 1 874950 50 4.
{{cite book}}: Cite has empty unknown parameter:|coauthors=(help); More than one of|pages=and|page=specified (help)CS1 maint: extra punctuation (link)
- Knowles, Lilian Charlotte Anne & Knowles, Charles Matthew. (1936) "The Economic Development of the British Overseas Empire, Volume 3". Routledge, USA & Canada, republished in 2005, pg 195
- Graaff, De Villiers. (1993) "Div Looks Back: The memoirs of Sir De Villiers Graaff". Human & Rousseau, Cape Town.
- Simons Brooke, Phillida. (2000) "Ice cold in Africa: The history of the Imperial Cold Storage & Supply Company Limited". Fernwood Press, Cape Town.