NABA member Spear Capital acquires stake in Zimbabwe’s second largest dairy company
SPEAR Capital (Pty) Ltd has acquired a 27 percent stake in Dendairy (Private) Limited, Zimbabwe’s second largest dairy producer, in a combined debt and equity transaction valued at US$6 million, SPEAR Capital announced 27th of April.SPEAR Capital partner Christian Victor Bernau says “Dendairy’s unique footprint in Zimbabwe, is well positioned for growth in Zimbabwe and we are targeting export markets within the region. There is growing demand for dairy products and the improvement in the political and economic environment are reasons that will provide numerous scalable growth opportunities for Dendairy.”Dendairy has invested heavily in its factory and grown its raw milk supply since its establishment in 2004, the company has continued to experience exceptional market penetration and growth within the Zimbabwean market, and has recently expanded its footprint to include Mozambique and Zambia. Dendairy currently produces Maas (fermented milk), UHT Milk, UHT Flavored Milk, Yogurts, Ice Cream, and Fruit Juices.“As a firm that invests in exceptional managerial talent in growth sector industries, Dendairy optimizes the types of opportunities SPEAR Capital strives to unearth.” Mr. Christian Victor Bernau, went on to add. SPEAR Capital’s stake could rise to 30% if built in performance measures are met, while this investment marks SPEAR Capital’s second investment in the Zimbabwe market in the last 12 months.About SPEAR CapitalSPEAR Capital is a pioneering Scandinavian backed Sub-Saharan Africa focused Private Equity investment company seeking to invest in businesses that are positioned to benefit from the continued economic growth in Sub-Saharan African countries. SPEAR explores possibilities within the Fast Moving Consumer Goods (FMCG), Manufacturing & Processing, Financial Services and Telecom/Media/Technology. SPEAR Capital makes investments on behalf of SPEAR Africa Holdings, a Mauritian registered investment company. For more information contact or visit: info@spearcapital.co.za or www.spearcapital.co.za Follow us on Twitter @Spear_Capital