Mccain Sells Veg Business In South Africa

Credit: Medvedeva Oxana/Shutterstock.com.

McCain Foods is trading its rootlike manufacturing operations successful South Africa to US-based Enduring Ventures.

Under nan position of nan deal, Enduring Ventures will summation ownership of nan Harvestime brand. Financial specifications were not disclosed.

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The investor intends to build nan Harvestime merchandise scope by rolling retired a caller “premium” stiff rootlike statement successful South Africa.

McCain said nan waste fits its strategy to “strengthen” its halfway murphy portfolio.

Gaynor Poretti, nan managing head of McCain’s South African arm, said: “This strategical determination supports our ambition to attraction connected our murphy business, wherever we spot important opportunities for invention and growth. By streamlining our operations, we tin put further into exertion and merchandise improvement for nan South African market.”

The waste includes a mill successful Springs, Gauteng and a earthy processing works successful Marble Hall, Limpopo, Together, nan sites person much than 350 employees.

Xavier Helgesen, managing head of Enduring Ventures, called nan woody a “meaningful step” successful expanding its existing beingness successful South Africa.

“We are committed to partnering pinch nan team, growers, and suppliers to proceed delivering value and stableness while building connected nan beardown foundations already successful place.”

The purchaser positions itself arsenic a holding institution pursuing nan “inspiration” of Berkshire Hathaway.

According to its website, it acquires and runs businesses for nan agelong word alternatively than pursuing a emblematic backstage equity exit, pinch a attraction connected sustainability, not “growth astatine all-costs”.

The waste follows 2 different disposals by McCain successful nan past 2 years.

In September 2024, McCain sold frozen-pizza assets – comprising nan Sibarita marque and a manufacturing works successful Pilar, Buenos Aires state – to Molinos Río de la Plata, nan nutrient limb of Grupo Perez Companc.

Meanwhile, successful March that year, McCain agreed to sell its Netherlands-based caller potatoes plus CelaVita to Dutch finance group Nimbus.

CelaVita, acquired successful 2012, produces parboiled, afloat cooked and ready-to-eat potatoes, arsenic good arsenic “natural and seasoned produce” nether nan McCain label, and includes a accumulation tract successful Wezep, Gelderland.

A period ago, McCain acquired US potato-products group Penobscot McCrum.