Cargill has completed the acquisition of the soybean-crushing and oil-refining subsidiary of Zambian beef producer Zambeef for an undisclosed amount.
Zamanita will become “an integral part of Cargill’s business” in the southern African country. As part of the deal, Cargill has acquired all of Zamanita’s assets – including the Mama’s and Zamanita brands of oil – and will take on more than 300 of the business’ existing employees. Cargill will continue to operate Zamanita’s brands and its experienced team will seek to ensure a smooth transition with no interruptions of supply, the US-based company said.
Cargill’s general manager in Zambia also revealed plans to begin a programme of investment at Zamanita’s facility in the country’s capital city, Lusaka.
Lezanne van Zyl said: “Cargill will immediately start an extensive investment programme at the crush and refinery site in Lusaka, where upgrades will be made to machinery, tools and operational processes. Building on Zamanita’s existing strengths, we intend to bring this plant up to the high standards of quality, environmental health and safety that is associated with our company around the world. We will optimise the efficiency of the operation that will bring benefits to our customers in the food and feed sectors.”
Johan Steyn, head of Cargill’s grain and oilseeds business in the Middle East and Africa, added: “Acquiring this business is a strong indicator of Cargill’s intention to grow our business in Zambia. We see excellent potential in the country’s agricultural sector and this investment is aligned with Cargill’s strategy to develop our offering to farmers. For many years we have focussed on working with small scale farmers in Zambia, enabling them to diversify into the cultivation of cash crops. Investing in soybean processing further enables Cargill to provide both small-scale and commercial farmers with market access for their products. Our feed customers will also benefit from a high and consistent soybean meal quality, building on our worldwide experience as a leading soybean meal producer.”
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