May. 20, 2016
With effect from 1 May 2016, Zaad Holdings Limited ("Zaad") has acquired a 49% stake in the Farm-Ag Group ("Farm-Ag").
Farm-Ag has in recent years established itself as one of the largest South African owned formulators and distributors of crop protection chemicals, selling both locally and internationally.
Zaad is a subsidiary of publicly listed Zeder Investments Limited and is a leading producer, marketer and distributor of a wide variety of agricultural seeds across several countries in Africa and abroad under established names like Agricol, Bakker Brothers and Klein Karoo Seed Marketing.
"We see Zaad as being a perfect fit for Farm-Ag" said Robert Maingard, Chairman of Farm-Ag, "and we are very much aligned in terms of our expansion vision both in South Africa and the rest of Africa at large. The potential for synergies is enormous."
Antonie Jacobs, CEO of Zaad, stated that he is very pleased with their 49% stake in Farm-Ag and that it falls very much in line with the Group's overall focus on strategic agri-inputs.
"When investing, we look at top management and established operations with growth potential," said Jacobs, "and Zaad looks forward to a mutually beneficial association with Farm-Ag under the leadership of Mr Maingard and Mr Akthar Shaik, both leaders in the agrochemical industry."