Daybreak Farms hopes to break new dawn with change of name
|Published
New corporate logo of Daybreak Foods, previously Daybreak Farms. Picture: Supplied
Daybreak Farms will now operate under the new name of “Daybreak Foods Proprietary Limited” following the successful registration of its company name change with the Companies and Intellectual Property Commission.
Daybreak management yesterday announced that the decision to change the company name was approved by the board of directors, and subsequently endorsed by the shareholders on March 14.
It said this transition marked a significant milestone in Daybreak’s journey towards renewal, reflecting the board’s commitment to corporatisation ambitions for the company.
Daybreak Farms, one of the largest integrated poultry producers in South Africa, is wholly owned by the Public Investment Corporation (PIC).
Last month, they appointed four additional non-executive directors to the board of Daybreak to bolster its corporate governance following an overhaul of the company’s board in 2022 in light of reports of multimillion-rand irregularities at the chicken producer.
The PIC also appointed new auditors and established a whistle-blowing hotline service provider as part of operationalising an ethics and investigations committee.
Daybreak thus started planning a R250 million debt deal to stabilise the company and optimise its operations and balance sheet.
The company yesterday said the adoption of the name Daybreak Foods aligned with CEO Richard Manzini’s vision of establishing a distinct corporate identity that is independent, recognisable, and accessible within the industry.
Manzini said this strategic move positioned Daybreak firmly among other leading players in the market.
As part of this transformation, Manzini said Daybreak reaffirmed its commitment to ethical corporate practices, prioritising the delivery of high-quality poultry products to customers, nurturing its employees, maintaining operational excellence in production facilities, and upholding transparent communication with shareholders.
“We are excited to embark on this new chapter as Daybreak Foods,” Manzini said.
“This name change represents our dedication to advancing our corporate identity while remaining steadfast in our commitment to excellence and integrity.”
BUSINESS REPORT