Phatisa has entered into legal agreements to acquire Zaad Group as its first investment in Food Fund 3

• Landmark investment in Africa’s agricultural inputs value chain, strengthening food security and resilience.

• Commercially robust, impact-aligned platform accelerating the transition from open pollinated varieties to climate and disease-resilient hybrid varieties.

• More than capital: combining investment, sector expertise and long-term value creation.

12 February 2026 – Phatisa, through its Food Fund 3, together with a consortium of investors, have agreed to acquire Zaad Holdings Proprietary Limited (“Zaad”). Zaad is a South African based investment holding company, specialised in the investment in agribusiness that operates at the core of the agricultural inputs sector. Through its portfolio of underlying investments, Zaad conducts complementary businesses throughout the agri-inputs value chain, encompassing seed breeding, production and distribution of forage, field and vegetable seed, alongside crop protection solutions with operations spanning across the African continent. Zaad further has strong research and development capabilities, which not only supports its world class seed breeding programmes, but has further placed it at the forefront of supporting Africa’s transition from open-pollinated varieties to climate and disease resilient hybrid varieties, all of which has and will continue to culminate in improved yields, productivity and food security.

The transaction will represent the first investment of Phatisa Food Fund 3, marking an important milestone in the Fund’s deployment following its first close.

Transaction overview

The transaction comprises the acquisition of Zaad, alongside a capital injection to enable the latter to acquire a majority interest in East Africa Seeds Group. The executive management of Zaad will retain a meaningful stake in the business through a long-term incentive scheme aligned to growth and value creation.

Phatisa is investing alongside a consortium made up of reputable companies such as the Public Investment Corporation (PIC), the Industrial Development Corporation (IDC) and Women Investment Portfolio Holdings (Wiphold), reflecting strong alignment between public and private capital in support of strategic African agribusinesses.

A landmark investment for Food Fund 3

This transaction will represent the first investment of Phatisa Food Fund 3, a pan-African fund focused on opportunities across the food value chain that combine strong commercial fundamentals with measurable impact. Building on Phatisa’s track record across its prior food funds, Fund 3 targets scalable businesses that strengthen food systems, improve resilience and support inclusive economic growth.

The investment in Zaad reflects Phatisa’s deep sector expertise and ability to execute complex, large-scale transactions, aligned with both investor returns and long-term development outcomes.

Imane El Alaoui-Grollemund Partner at Phatisa, commented: 

“Zaad is a compelling example of the type of business we seek to back through Food Fund 3: deeply embedded in the food value chain, commercially robust, and delivering solutions that materially improve agricultural productivity and resilience. We are proud to make Zaad the first investment of the Fund.”

Strengthening a critical link in the food value chain

Agricultural inputs sit at the foundation of food security. By improving seed quality, resilience and accessibility, businesses like Zaad play a direct role in increasing yields, supporting smallholder and emerging farmers, and building more robust food systems across the continent.

Zaad offers scalable, pan-African growth anchored in hybrid varieties that are climate and disease resilient, combining attractive commercial fundamentals with strong impact outcomes and clear ESG alignment – a close fit with Phatisa’s long-standing investment and impact thesis.

Antonie Jacobs, Zaad CEO, said: 

“With Phatisa’s support, we look forward to accelerating our growth across Africa, investing further in innovation and research, and expanding access to hybrid, climate and disease resilient varieties that support better outcomes for farmers and food systems alike.”

Phatisa – more than capital

Phatisa works closely with management teams to drive operational excellence, responsible growth and long-term value creation. Its hands-on approach, local presence and deep networks enable it to support portfolio companies beyond capital, including strategy, governance, ESG integration and expansion across African markets.

Looking ahead

With growing pressure on African food systems from climate change, population growth and input cost volatility, investments in agricultural inputs are increasingly strategic. Under Phatisa’s ownership, the Zaad Group will be well positioned to accelerate innovation, expand its pan-African footprint and deepen its contribution to productivity, resilience and food security across the continent.

Completion of the transaction is subject to obtaining the requisite regulatory approvals and the fulfilment of the applicable conditions precedent.

Ends.