Export success and expertise keys to frozen fruit move
In an investment demonstrating significant confidence in regional agri-processing, the capital arm of blue-chip company Remgro Limited is set to acquire a 30% shareholding in leading Port Elizabeth frozen-fruit producer Dynamic Commodities.
Johan Rupert-chaired Remgro’s growth capital division, Invenfin, announced its intention to acquire the shareholding in the Coega Industrial Development Zone-based specialist producer and exporter on Tuesday.
The latest development at Dynamic Commodities follows the announcement of a R22-million expansion of its operations during late May this year.
At the time, Dynamic Commodities said it intended doubling the size of the company over the next three years.
Ownership of the company will remain with business partners chief executive Adrian Vardy and founder and managing director Manie Maritz, who collectively hold 70% of the shares.
The company is a leading exporter of frozen-fruit products and derives most of its revenue from exports.
Vardy, who described the business as a “a 20-year-old overnight success story”, said yesterday that attracting interest from the calibre of a company like Remgro was a compliment.
“The partnership will allow us to enhance our strategic thinking, expand infrastructure, and strengthen our new product development processes. Invenfin’s marketing and branding expertise were also key factors for us.”
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