Seprod sells Butterkist biscuit maker IBL

Seprod Limited has sold International Biscuits Limited (IBL), the maker of Butterkist and Snackables, in a move CEO Richard Pandohie described as a deliberate step to simplify the group’s footprint, reduce channel conflict, and accelerate deleveraging after a period of regional expansion. “This transaction represents a deliberate and strategic step in aligning our portfolio with our long-term growth priorities. We are sharpening our operational focus [and] strengthening our balance sheet,” Pandohie said, echoing the company’s formal statement.