Imperial Cold Storage and Supply Company
Encyclopedia
Imperial Cold Storage and Supply Company (ICS) was one of the largest meat processing, storage, distribution and marketing companies in South Africa
, 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. 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.
, 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.
in 1934 the company was in serious financial trouble. More money was sought from investors to help shore up the companies finances. Anglo-American corporation was the largest investor and the total capital of the company increased to GB£
2.2 million (equivalent to £436,000,000 in 2010). 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.
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.
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
, 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
Cape Town
Cape Town is the second-most populous city in South Africa, and the provincial capital and primate city of the Western Cape. As the seat of the National Parliament, it is also the legislative capital of the country. It forms part of the City of Cape Town metropolitan municipality...
. Combrinck & CO. was then merged into ICS. 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
Union-Castle Line
The Union-Castle Line was a prominent British shipping line that operated a fleet of passenger liners and cargo ships between Europe and Africa from 1900 to 1977. It was formed from the merger of the Union Line and Castle Shipping Line...
. Sir David Graaff, 1st Baronet
Sir David Graaff, 1st Baronet
Sir David Pieter de Villiers Graaff, 1st Baronet was a South African cold storage magnate and politician. Graaff revolutionized the cold storage industry in Africa. He founded the Imperial Cold Storage and Supply Company in 1899, and aggressively ran it until he left to serve in government. ...
was a founder, chairman and major shareholder.
Rhodesian Operation
In 1924, the then government of Southern RhodesiaSouthern Rhodesia
Southern Rhodesia was the name of the British colony situated north of the Limpopo River and the Union of South Africa. From its independence in 1965 until its extinction in 1980, it was known as Rhodesia...
, now Zimbabwe
Zimbabwe
Zimbabwe is a landlocked country located in the southern part of the African continent, between the Zambezi and Limpopo rivers. It is bordered by South Africa to the south, Botswana to the southwest, Zambia and a tip of Namibia to the northwest and Mozambique to the east. Zimbabwe has three...
, 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£
Pound sterling
The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence...
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.
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 depressionGreat Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
in 1934 the company was in serious financial trouble. More money was sought from investors to help shore up the companies finances. Anglo-American corporation was the largest investor and the total capital of the company increased to GB£
Pound sterling
The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence...
2.2 million (equivalent to £436,000,000 in 2010). Anglo's share in the company would continue to grow as Imperial Cold Storage worked more and more with Tiger Oats
Tiger Brands
Tiger Brands Limited is a South African packaged goods company. In addition to the company's South African operations Tiger Brands also has direct and indirect interests in international food businesses in Chile, Zimbabwe, Kenya and Cameroon...
, then a subsidiary of Anglo-American corporation.
In March 1982 Barlow
Barloworld Limited
Barloworld Limited is an industrial brand management company, founded in South Africa. Once a large conglomerate with many unrelated businesses, ranging at various times from mining, information technology and building materials to motor vehicles, it has repositioned itself as an industrial brand...
bought a considerable share of Tiger Oats and a controlling share in Imperial Cold Storage. In October 1998 Tiger Brands
Tiger Brands
Tiger Brands Limited is a South African packaged goods company. In addition to the company's South African operations Tiger Brands also has direct and indirect interests in international food businesses in Chile, Zimbabwe, Kenya and Cameroon...
(then known as Tiger Oats Limited) bought out Imperial Cold Storage and the company was folded into its portfolio of brands and companies.
Other References
- Knowles, Lilian Charlotte Anne & Knowles, Charles Matthew. (1936) http://books.google.com/books?id=SoaY8HBBcKQC&pg=PA195&lpg=PA195&dq=Imperial+Cold+Storage+%26+Supply+Company+Limited,+The+Economic+Development+of+the+British+Overseas+Empire&source=bl&ots=DttQ7FVd2G&sig=PAKpDVl_M3Gcz75DLVoXV2pFVX4&hl=en&ei=zPgyTL7RNY2TkAWktrWhDA&sa=X&oi=book_result&ct=result&resnum=2&ved=0CBsQ6AEwAQ#v=onepage&q&f=false"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.