Agri-Vie Fund I is focused on mid-market growth investments in the food & agribusiness sector of Sub-Saharan Africa. EXEO Capital manages the fund’s portfolio for Agri-Vie Investment Advisors (Pty) Ltd.
Sector : Tropical juice/fresh fruit and vegetables
africaJUICE BV operates three farms and a juice processing plant to EU standards in the Upper Awash region of Ethiopia. africaJUICE is a vertically integrated grower and processor of tropical fruit juice, mainly for export markets in Western Europe and the Middle East. The company also produces other horticultural products for the domestic market and supplements its own growing operations in partnership with an outgrowers program. This program presents small rural farmers with new opportunities and exposes them to quality improvement programs in growing fruit.
Dew Crisp, established in 1987, is the market leader in convenience leaf salads in SA and has a leading market share amongst the big four national retailers as well as in the fast food trade. It is a vertically integrated business with operations in farming, processing and cold chain logistics. The farming operations are diversified both from a farming type (hydroponics, tunnels and open) point of view as well as geographically. Operations are based in Gauteng and the Western Cape Provinces of South Africa and its customer reach also extends into the KwaZulu-Natal Province.
Fairfield Dairies (Pty) Ltd, established in 1991 in the KwaZulu-Natal (KZN) Province of South Africa is a privately owned dairy, supplying house-branded products to national retailers. It is a top 10 dairy company in South Africa. The company has won many national awards for its quality products, especially yoghurts and soft cheeses.
New Forests Company (NFC) Uganda, Rwanda and Tanzania
The New Forests Company, established in 2004, is a vertically integrated East and Southern African forestry and timber operation. It is one of the largest privately-owned forestry and timber companies in East Africa, with major import replacement opportunities existing in the timber markets. The establishment of pine and eucalypt plantations is ongoing in all the areas, using species that are tolerant of tropical conditions. Pole treatment plants have been established in Uganda, Tanzania and Rwanda. Further processing operations (sawmilling, pole treatment, charcoal and wood processing) are being developed in all countries in which NFC operates.
Hygrotech, established in 1984 with a track record of over 30 years in its field, is the market leader in vegetable seed marketing and distribution in South Africa, offering a “one stop” service to more than 4,000 clients throughout South Africa. Hygrotech supplies seed, adjuvants, growth stimulants, seedling systems (seed trays, growth medium and sowing machines) fertilizers, foliar feeds, biological products, plant manipulators and mechanical implements in South Africa and Zambia. The company has 15 outlets across South Africa with distributors in several southern African countries.
African Spirits Group (Asilia), Tanzania and Kenya
Asilia is a 12-year old ecotourism business operating in the high end market segment. The company currently operates a coral beach resort on Zanzibar Island as well as permanent and semi-permanent safari camps in the Serengeti, Tarangire and Ruaha National Parks of Tanzania and adjacent to the Maasai Mara National Reserve in Kenya. The company fulfils a pioneering role in conservation related initiatives.
HIK was established in 1998 as an abalone farm situated in the Southern African coastal town of Hermanus. Since then the company has grown its standing stock of biological abalone and exports increasing abalone per year to the Far East. It produces a wide range of abalone products, including live abalone (their speciality) as well as canned, dried, frozen and processed abalone in a wide range of sizes. The company’s primary markets are in the Far East. The business has expanded to include interests in feed and abalone processing. Further capital projects are underway.
The Intelichem Group of companies is a provider of crop solutions to the agricultural industry and related peripherals through its subsidiaries InteliGro, InteliSoil, InteliSeed, InteliFert and Itelekt and is the national market leader. The broad product categories are crop protection, specialized plant nutrition and seeds. Innovative technology together with supportive expertise complements the product offering.
The Kariki Group of Companies was started in 2002 on the slopes of Mt Kenya. Subsequent expansions have led to the development of three additional farms in the Juja, Naivasha and Molo areas. The Kenyan cut flower industry is sophisticated and now one of the world’s leading suppliers of cut flowers with a reported 35% market share in the European Union. Lying astride the equator, Kenya has climatic advantages i.e. no extreme seasonal fluctuations and a high percentage of sunlight hours. Products are air freighted daily to Europe, Japan and other destinations. The company is a niche supplier of selected “summer flower” cultivars (Hypericum, Eryngium, Solidago) and has expanded its offering into carnations. Much of the flowers are marketed through Marginpar, a Dutch flower house.
Cape Olive, established in the 1960s, is the market leader in table olives in South Africa, supplying mainly into the retail sector, but also to certain food service suppliers. The company olive orchards and packing factory are located on its La Valle Estate, in the Paarl district. Product is marketed in plastic doy packs and in tin can under the Buffet Olives brand into all major retailers nationwide. In addition, the company packs the table olive house brands for national retailers and is the sole supplier of olives to a major pizza chain.
Vida Oils, Mozambique and South Africa - Exited 2019
Vida Oils became part of the Agri-Vie portfolio in December 2012 as an Africa-based refiner and packer of 100% coconut oil products, with operations in Mozambique (Inhambane Province) and a refining plant near Durban, South Africa. The three acquired coconut oil processing businesses have been in operation since the early 1990s. Vida Oils procures, processes and distributes coconut products, oils, fats and by-products at its operations, supplying tailor-made lauric oil products to the health, cosmetics and food manufacturing industries, as well as industrial users. The company’s outgrower program has established a route-to-market for many small-scale growers in Mozambique.
Established in 2004, Mtanga Foods is a vertically integrated meat business supplying the growing demand for quality meat products in Dar Es Salaam and other selected Tanzanian markets. The company controls the entire value chain, including feeds production, animal husbandry, abattoir, processing and distribution. The business operates a breeding herd while also sourcing cattle from local herdsmen for finishing before slaughtering. Customers are mainly contract catering companies as well as hospitality and retail customers.