Table of Contents
Key Point
- PSG Group’s wholly owned subsidiary sells its Western Cape-based farming unit for $10.5 million.
- The sale reflects Zeder Financial Services’s broader strategy to streamline its portfolio and maximize shareholder value.
- Buyer Vredenhof Beleggings, majority-owned by the Beukes family, along with Carolina Van Wyk, assumes ownership of the farming unit.
Zeder Financial Services Limited (Zeder), a wholly-owned subsidiary of PSG Group, a leading South African investment holding company controlled by the billionaire Mouton family, has divested its Applethwaite farming unit in the Western Cape for R190 million ($10.5 million) to Vredenhof Beleggings Proprietary Limited.
The sale aligns with Zeder’s strategic portfolio review aimed at maximizing shareholder value. This move reflects a broader trend of consolidation within South Africa’s agricultural sector, with larger players acquiring smaller farms to achieve economies of scale.
Transaction details
Under the agreement, Zeder, through its subsidiaries Pome Investments and Capespan Agri Proprietary (CS Agri), will transfer ownership of Applethwaite to Vredenhof Beleggings, majority-owned by the Beukes family and Carolina Van Wyk, beneficiaries of the Sass and Emma Trust.
The deal includes agricultural inputs on hand and 2025 seasonal costs already incurred, not exceeding the JSE Listings Requirements’ category 1 threshold.
This sale is part of Zeder’s strategy to optimize its portfolio and enhance shareholder wealth. By divesting Applethwaite, Zeder plans to streamline operations and redistribute the majority of the proceeds to shareholders.
Zeder’s commitment to shareholder value
PSG Group is a South African investment holding company with a diversified portfolio across banking, education, finance, and consumer goods. The Mouton family, including executives Petrus and Johannes Mouton, holds a 24.5 percent stake in PSG.
The recent transaction underscores Zeder’s commitment to portfolio optimization and shareholder value creation. The transaction highlights the company’s proactive asset management and dedication to maintaining a robust financial position within the agricultural sector.
