FOOD & BEVERAGES: Zeder Increases Its Interest In Capespan
Recent Western Cape Business News
Zeder Investments, the listed investment company focusing on the agri-business sector, increased its interest in Capespan to 71,1% by acquiring Total Produce PLC’s total shareholding in the company.
Capespan is one of South Africa’s leading marketers and exporters of fruit, annually exporting about 54 million cartons of more than 1 300 fruit producers to different countries world-wide.
Total Produce is one of Europa’s leading suppliers of fresh produce and was till now the second largest shareholder in Capespan. The transaction will be effective from Tuesday, 23 April 2013.
The transaction, amounting to R258 million, follows Zeder increasing its interest in Capespan to 46% after its financial year-end to February 2013.
Zeder Investments CEO, Norman Celliers, said that as a long-term investor in the agri-business sector, Zeder wants to contribute actively in unlocking value for shareholders. The Total Produce transaction is part of this strategy.
“We already have an interest in Capespan for some time. Capespan is a well-established company with a strong foundation. Besides the marketing of fruit, the company is a leader in logistics regarding the transport of fruit with a strategic poisoning in harbours.
“Our aim is to assist companies to put their strategy into effect with enough room for management to managing the day-to-day running of the company.
“Zeder is positive about the growth potential of Capespan en believes that the transaction will be of significant value to shareholders,” Celliers said.
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