Shareholding, Directors and Staff
Up until the end of 2014 the two major shareholders in Sunspray were Sabvest (48,2%) and the DEW Family Trust (49,4%). In order to meet new BBBEE requirements these two shareholders decided to sell more than half their shares to a BBBEE consortium headed by RMB Corvest and Shalamuka. The investment company is called Arpdeen, who now hold 56% of the shares.
Sabvest Ltd controls 22% of the shareholding of Sunspray Food Ingredients (Pty) Ltd. The company is quoted on the Johannesburg Stock Exchange and the Executive Chairman is Mr Christopher Seabrooke, B Com., B Acc., MBA. Mr Seabrooke is a non-executive director of Sunspray Food Ingredients.
Mr David Watson B.Sc. (ChemEng), MBA, through a family trust, has a 22% shareholding in Sunspray Food Ingredients and is also a full time employee of the company in the capacity of Managing Director. Prior to the purchase of the company nearly all of Mr Watson’s business experience was in the food industry of South Africa, and he was a director of the Consumer Goods Council of South Africa, and is a past President of SAAFoST. He is now Chairman of the newly established SAAFoST Foundation.
Mrs René Cross, Nat Dip Food Tech; SAIM Business Management, holds the remaining 5% of the company shares via her shareholding in Arpdeen and is a full time employee of the company and is on the Board of Directors in the capacity of Marketing Director. Prior to joining Sunspray Food Ingredients, Mrs Cross has had extensive experience in the Food and Flavour industry having worked for Nestlé, Simba and IFF in various management positions covering QA, Production, Operations and Marketing.
Mr FP van Reede van Oudtshoorn, CA BCom Hons (SAICA), is a full time employee of the company in the position of Financial Director. Mr van Reede Van Oudtshoorn has gained his experience of financial management in various sectors of mining and manufacturing.
In total, spread across both manufacturing sites, Sunspray has 270 full time employees. The majority are in manufacturing and its support services such as quality assurance, quality control, logistics and engineering services. The balance of the staff are in general management, marketing (including research & development) and administration. Nearly forty members of staff have tertiary education qualifications and approximately 30% of staff have been with the company for longer than ten years.
Some of the other site services such as security and cleaning are contracted out to third party service providers.
Sunspray has contracted out all its local transport requirements to various BEE companies, namely CDS (refrigerated and non refrigerated) K&H and MK Transport. These companies service the transport needs on behalf of Sunspray in Gauteng, to Durban and the Western Cape.
MK Transport also handles all of Sunspray’s off-site warehousing needs. The company is also fully committed to three Enterprise Development programmes which will assist with higher BBBEE ratings. Sunspray also takes the Employment Equity Act seriously and is making good ongoing progress in this regard.