Well-known South African citrus producer Bosveld Sitrus has extended its interests in the South African citrus, banana, sugar and sub-tropical fruit sectors with the acquisition of major supplier Golden Frontiers Citrus.
According to a statement issued by Bosveld Sitrus, the company has acquired shareholdings belonging to both TSB (51 per cent) and the Industrial Development Corporation (49 per cent) in Golden Frontiers Citrus.
The takeover is expected to result in Bosveld Sitrus increasing its basket of fruit products from just over 3m cartons to 6m cartons. The effective date of the transaction was 1 April 2011.
'With this acquisition the Bosveld Group now has full control over Komati Fruits,' said Piet Smit, managing director of the Bosveld Group.
Komati Fruits is a well-known citrus export-marketer in which Bosveld Sitrus and Golden Frontiers Citrus previously had equal shareholding.
The Bosveld Group was established by Milaan Thalwitzer, previously chairman of Outspan International and later vice-chairman of Capespan, soon after the deregulation of the South African citrus industry.
The takeover means that Dr Hoppie Nel, a well-known personality in the South African citrus industry, has now relinquished his position as managing director of Golden Frontier Citrus, with Cornel van der Merwe taking on the role.
Meanwhile, another well-known figure at Bosveld Sitrus, Marinus Neethling, has moved from the group’s headquarters in Letsitele in the Lowveld region to Malalane, Mpumalanga Province where, as director of production and purchasing, he will be closely involved with day-to-day activities at Golden Frontier Citrus.
A full report on the takeover of Golden Frontiers Citrus by Bosveld Sitrus will be published in the June 2011 issue of Eurofruit.
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