Cargill has moved to buy Zamanita, the cooking oil business of African food group Zambeef.
The US agribusiness giant has struck a deal to pay US$25.7m for Zamanita, which manufactures edible oils and soybean meal in Zambia.
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For the year ended 30 September, Zamanita recorded revenue of US$67.9m, a gross profit of $9.9m and a loss after tax of $2m.
When contacted by just-food, Cargill confirmed the deal but declined to comment further.
UK-listed Zambeef announced in December it was considering offloading the business, which it acquired in 2008.
Announcing the deal today (3 February), Zambeef said the deal would allow it to focus on its “core business”, the retailing of cold chain meat and dairy products.
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