Petra Foods proposes name change to Delfi Limited
It wants to create a stronger impression.
Petra Foods may soon be Petra Foods no more, as the group has made a proposal to change its name to Delfi Limited.
According to their announcement, the food company is turning its attention towards the sales and marketing of its own brands of chocolate confectionary products following the divestment of its cocoa ingredients segment.
The group has a wide ranging portfolio of chocolate products which are helmed by more than ten master brands. Some of the master brands are used to build Petra Foods' brand equity with consumers in specific markets. Meanwhile, other brands are used to build the group's presence across the region.
The group reports it is from the latter category that the new name is taken. Delfi is the group's most notable master brand in this category, as it is the key brand used to build the group's presence across different markets. At the same time, Delfi is broad enough to accommodate expansion into new product categories.
"After much consideration, the Board is of the view that aligning the corporate identity with the 'Delfi' brand, and allowing the 'Delfi' brand to become the corporate brand, will allow the 'Delfi' brand to create a stronger impression," the announcement states.
The name change will become effective once certain conditions have been met. Shareholders will have to approve by way of a special resolution at an extraordinary general meeting. Also, the Registrar of Companies will need to a issue a certificate confirming the incorporation of the company under its new name.
The group assures that the the proposed change of name will not affect the rights of shareholders.