The consolidation of South African exporter Colorsfruit has been completed following the decision by a leading South African agri-business group Farm Secure to increase its shareholding in the company.
Last year Colorsfruit was the subject of a split in which a number of executives left the company to establish their own export business. This followed a major shake-up in which the original shareholders, the Van Wyk en Carstens families for Paarl, resumed control of the company.
Riaan van Wyk, who has been re-confirmed as chief executive of the Colorsfruit by the company’s new board said: “Farm Secure has bought out the shares of the minority shareholders who left the company. This brings Farm Secure’s shareholding to 34 per cent, with the Van Wyk and Carstens families holding 24 per cent each.”
Farm Secure’s non executive chairman, Eugene Yasbek, has also been appointed as non-executive chairman at Colorsfruit.
“This brings to and end the process we have been following since last year and Colorsfruit is now well positioned to concentrate on its major objectives, namely expanding in new grape cultivars and increasing its share of primary production,” he said.
Colorsfruit has excess to a total of 2,300 hectares of own production, which makes it one of the leading producer groups in the country.
