Earlier this week, we announced that Phatisa, together with a consortium of leading DFIs, acquired a significant minority stake in South African-based citrus and fresh-produce exporter, Lona Group.
As one of the largest integrated fruit businesses in South Africa, the Lona is involved in activities across the food value chain, from: farming, aggregating and packing fruit (citrus, mango, grape, olives, and stonefruit), to: cold storage and logistics, marketing fruit for export and domestic consumption, plus fruit and vegetable processing. With line of sight across the entire value chain, Lona has tight controls, traceability, and reknowned reliability amongst customers.
The DFI co-investors are British International Investment, Norfund and Finnfund – all of whom are also investors in Phatisa Food Fund 2, raised last year.