The robbery, which saw a G4S security guard stripped of his gun and a bag of money, was captured on CCTV cameras at Premier Foods in Pinetown.
A source within the security industry with knowledge of the incident, who could not be named as he is not authorised to speak to the press, said that initial inquiries suggested that R700 000 had been stolen.
“This figure still needs to be confirmed, but that is what we have been told by the client involved in the robbery,” he said.
The source added that in the moments after the security officer was disarmed, the driver of the armoured vehicle sped off and crashed through a wall with several gang members firing on the truck.
No one was hurt in the incident.
Police spokespersons were approached for comment, but had not responded at the time of publishing.