Paradise Foods sells spice business

PARADISE Foods has sold its spice business, Paradise Spices, to Rhincornese Holdings Ltd (RHL) in order to focus on its concentrate on its Queen Emma chocolates and biscuits.
Chief executive officer James Rice received a K180,000 cheque from RHL managing director Francis Wagaia in Port Moresby yesterday.
“Paradise Foods Ltd purchased the spice business in 2013 from the Puritau family, and it’s fair to say it is no longer a core business for us so it is great that we can pass the business to another owners,” Rice said.
He said the range of spices processed by their spice business included vanilla, pepper, turmeric, chilli, cardamom, ginger, nutmeg, paprika and cinnamon all sourced from within Papua New Guinea.
He said their spice staff had been transferred to their Queen Emma chocolate factory while the spice company and its equipment had been sold off.
Wagaia thanked Paradise Foods for allowing his company to buy the spice business.
“Rhicornese Holdings Ltd is the parent company of LD Logistics and the purchase of this business will enable local farmers to have easy access to the markets through our existing networks and logistical support,” he said.
“Farmers will now be able to sell their produce at a higher price.”