Sea Harvest, the South African frozen seafood business, has acquired local business Ladismith Cheese.
The deal – for ZAR27m (US$1.9m) – was done through Cape Town-based Sea Harvest’s subsidiary Cape Harvest Food Group and gives the company greater exposure to dairy, which it sees a growing category in the country.
Go deeper with GlobalData
Sea Harvest Group CEO Felix Ratheb said the acquisition of Ladismith Cheese, based in the Western Cape, fits in with its “strategic deliverables of organic and acquisitive growth”.
He added: “In support of our acquisitive goals the group’s strategy is to invest in fishing and complementary sectors of the South African food and agricultural industry which exhibit strong fundamentals, growth and where the group is able to leverage its core competencies and strengths.
“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.
“It has a long track-record, strong national brand and a proven management team. In our opinion, the dairy sector is expected to experience continued growing demand for cheese and butter in response to consumer dietary changes towards natural fat products.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
