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.

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.

[3] Due to the high costs of expansion in southern Africa along with a slump in the demand for meat following the Great Depression in 1934 the company was in serious financial trouble.

[4] 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.