Fresh produce business sells 28% BEE stake

April 18, 2006

A black economic empowerment (BEE) company led by Mutle Mogase, chairperson of Vantage Capital, has bought a 28% stake in the Goedemoed, Vredendal, grape and tomato farming business run by Abrie Botha, a leading figure in Western Cape agriculture...

The deal, the value of which was undisclosed, includes the Goedemoed farms covering 125ha on the West Coast, and AB Packers, a packaging and distribution business supplying retailers such as Woolworths and Pick 'n Pay. Funding for part of the transaction and capital for expansion were both arranged through Nedbank Business Banking's specialist agricultural unit in Paarl.

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