A consortium of investors and wealthy individuals are backing AgriGroupe Holding’s proposed R2.6 billion (US$260 million) acquisition of agricultural group Afgri. AgriGroupe is headed by Michael Wilkerson who stated that various backers of the group include both local and international investors with approximately 70% from North America and that the group saw significant potential growth in Afgri’s current business. Afgri has operations in South Africa, Western Australia, Zambia, Botswana, Uganda, Swaziland, Zimbabwe, Republic of Congo, Ghana, Namibia, Nigeria, and Mozambique. In fiscal year 2013 Afgri reported revenues of R8.3 billion (US$830 million).
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service