Food for thought

Finweek English Edition - - INVESTMENT - TAN­DI­S­IZWE MAHLUT­SHANA

ed in the pre­vi­ous cor­re­spond­ing pe­riod.

This counter has some in­ter­est­ing di­ver­sif ica­tion plays, in­clud­ing a 46.8% stake in Agri Voed­sel, an un­listed in­vest­ment hold­ing com­pany that owns 30.5% in JSE-listed Pi­o­neer Foods. It also holds 92% of Zaad Hold­ings, owner of Agri­col – which is in the busi­ness of veg­eta­bles, pas­ture and agro­nomic seeds – op­er­at­ing in Africa and the Mid­dle East. Fur­ther, Zeder paid R353.3m to in­crease its stake in Capes­pan from 37.1% to 71.7%. Capes­pan, a fruit pro­duc­tion and dis­tri­bu­tion play, sells to more than 60 coun­tries across the globe.

All of this and more is yours for R4.42. FOL­LOW­ING OUR pre­vi­ous cover story ti­tled ‘ Boer’ Bil­lion­aires, my cu­rios­ity around var­i­ous other busi­nesses which have sprung out of “Stel­len­bucks” kicked into high gear. Zeder, the PSG-owned agri-in­vest­ment hold­ing com­pany, caught my eye. It is run by a team that not only un­der­stands busi­ness, but also the busi­ness of agri­cul­ture, food and re­lated sec­tors.

In its in­terim re­sults to 31 Au­gust 2013, it re­ported that the value of its un­der­ly­ing port­fo­lio of in­vest­ments amounted to R4.36bn. This is R1bn more from the R3.6bn it re­port-

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