Fishing and food business Sea Harvest has entered into agreement to acquire South African dairy firm Ladismith Cheese for 527 million ZAR ($35.8 million).
Sea Harvest group CEO, Felix Ratheb said: “Ladismith Cheese exhibits strong fundamentals. It is a profitable, branded fast moving consumer goods food manufacturer of significant scale in the food and agricultural sector”.
“The acquisition of Ladismith Cheese will provide Sea Harvest, through its wholly-owned subsidiary company, Cape Harvest, with an ideal platform from which to build on in the dairy sector through the development and acquisition of additional dairy and allied beverage products”, commented Fred Robertson, chairperson of Sea Harvest Group’s majority shareholder Brimstone.
Source: Sea Harverst