ZAMBIA – German multi-national company Amatheon is acquiring Zambia’s More Beef and Real Beef processing companies for undisclosed amounts.
The Amatheon Agri Group is not buying More Beef directly but the transaction will be executed through Real Meat Company Limited, in which the group agreed to acquire a controlling stake.
Real Meat will hold 100 percent of More Beef Limited.
“After regulatory approval, the Group will have a controlling stake in the Real Meat Company Limited, which in turn will wholly own More Beef Limited. Both transactions require the Zambia Competition and Consumer Protection Commission’s approval, which is being conducted at the moment,” she said.
The Berlin-based firm comprises sustainable farming, trading and food processing operations in sub-Saharan Africa.
Amatheon Agri’s corporate responsibility and communications representative Harriet Gorka confirmed after a press query from the Daily Mail that the company, through its subsidiary Real Meat Company Limited, will acquire 100 percent stake in More Beef.
Ms Gorka said Amatheon anticipates that, with the new acquisition, the number of employees in the company’s operations in Zambia will rise to 500.
Ms Gorka said Amatheon, which has a 20,000-hectare farm in Mumbwa, was encouraged to invest in Zambia because the country is politically stable, has favourable conditions for agriculture and is open to foreign direct investment.
Amatheon Agri Group founder and chief executive officer Carl Bruhn said the company will continue creating collaborations with Zambia to promote agriculture in general and beef production in particular.
November 13, 2014; https://www.daily-mail.co.zm/?p=10702