SOUTH AFRICA – South Africa-based equity investor, Sakhumnotho Group Holdings, has acquired a 25% stake in Boschkrans farm, a producer and exporter of citrus and table grapes.
The orchard is located on about 500 ha alongside the Olifants river, outside Groblersdal in the Limpopo province of South Africa’s Loskop Valley.
Boschkrans exports over 112,000 tonnes of fruit to more than 30 countries in Europe, Asia, Africa, and North America, reports Bizcommunity.
By acquiring an equity stake in the Van Zyl family-owned farm, which five generations of custodians have led, Sakhumnotho hopes not only to increase its agricultural investment portfolio but additionally be among the best by producing high-quality products using cutting-edge agricultural technology and effective collaboration.
Prof. Sipho Mseleku, president and CEO of Sakhumnotho Group, said on the agreement, “When we initially learned about the company, we were aware of the huge potential for growth with the Van Zyl family.
“Together with the Boschkrans team, we eagerly anticipate developing the agricultural enterprise of the future. The desire is to expand our access to markets by becoming a significant player in the industry.”
Boschkrans shares similar business philosophies and knowledge as Sakhumnotho Group, with both companies conscious of their obligations to the local community, the nation, and the global fresh produce industry.
Depending on the season, the farm employs between 600 and 1,400 people, contributing to the expansion of the labor force in South Africa.
The arrangement also grants Boschkrans significant BEE credentials as Sakhumnotho is a wholly black-owned company with substantial investment holdings throughout numerous industries and the entire African continent.
According to Johan van Zyl, CEO of Boschkrans, “Sakhumnotho Group’s influence and involvement in Boschkrans form a vital part of our strategic vision to be a global role player in the production and marketing of fresh produce.
“Our farming expertise, Sakhumnotho’s investment, and business acumen, and international exposure are a perfect match.
“Furthermore, we share the same principles and values that will serve as the foundation for our future endeavors. We are excited to grow both Boschkrans and Sakhumnotho.”
Still, in South Africa, ZZ2 subsidiary Cape Almonds has launched 50 tonnes of locally grown almonds through South Africa’s national fresh produce markets under the Al Monde brand name.
Cape Almonds has formed license agreements with more than 50 Western Cape farmers to grow and produce the almonds, helping to create employment and upskill the farmers in making a locally-grown crop commercially viable.
The Al Monde almonds are raw (not roasted, salted, or treated in any way) and are available in packs at the National Fresh Produce Markets in Johannesburg, Pretoria, Durban, and Cape Town.
Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals, and insights from Africa’s business, economy, and more. SUBSCRIBE HERE
