ADM subsidiary invests in South African nut market
Jan. 14, 2014
by Jeff Gelski
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DECATUR, ILL. – Golden Peanut Co. L.L.C., a subsidiary of Decatur-based Archer Daniels Midland Co., has acquired an 80% ownership stake in the assets of a South African peanut business and a 50% ownership stake in a South African pecan business.
The 80% ownership stake involves P-Farm Agente, a peanut processor that had been privately owned by Alfonso Visser since it was formed in 1997. Mr. Visser will continue to control 20%. P-Farm Agente, based in Hartswater, South Africa, includes a bulk warehouse and a shelling plant capable of processing 20,000 tonnes of peanuts per year.
The peanut business will operate under the name Golden Peanut and Tree Nut S.A.
The 50% ownership stake involves South African Pecans, a pecan processor and marketer that will operate under the name GPC Pecan S.A. Mr. Visser will control the other 50% of the company.
“Our entry into the South African peanut market augments Golden Peanut’s presence in the United States and Argentina, enabling us to serve more customers from more points of origin,” said Kris Lutt, president of Golden Peanut Co., based in Alpharetta, Ga. “The regional origination and export capacity provided by P-Farm’s operations will help Golden Peanut advance toward our goal of becoming a global groundnut sheller and handler.”
Mr. Visser said, “Golden Peanut’s investment in the South African groundnut industry will bring new technology and new seed varieties to this region, which will be valuable for South African farmers and for the groundnut industry as a whole.”