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July 21, 2011

Lonrho acquires South African food export business

by Jamie Ashcroft

Lonrho has agreed on a £4.5 million cash deal to acquire a South African airborne food export business, Grindrod Ltd.

Grindrod, headquartered at Johannesburg International Airport, is a leading exporter of fruit, vegetables and fish into the global market.

This is the acquisitive conglomerate’s latest add-on within its agriculture business unit, following on from last month’s acquisition of South African fish processing and cold store business, fish-on-line.

“The opportunities for Africa to further develop its agricultural output and supply produce to the booming African market and the growing export market are significant and this acquisition places Lonrho at the forefront of meeting this demand," said chairman David Lenigas.

Grindrod PCA’s existing management team stay on, to operate the business on a day to day basis, and the business will be integrated into the Lonrho group.

“Lonrho is seeing increasing demand from global retail chains in the USA, Europe and the Far East for fresh produce from Southern Africa as retailers seek new sources of supply to meet increasing global sales,” the company said.

“There is growing demand from the increasingly affluent one billion potential consumers in the domestic African market and from the expanding export market for opportunities for Africa to help to meet global demand.”

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