1K Africa invests in African Aquaculture Business
Investment by Sub-Saharan Africa-focused private family capital fund in leading trout producer is the third investment consummated by 1K Africa
Cape Town, South Africa (August 29, 2017) – 1K Africa, a U.S. private capital fund backed exclusively by leading families, announced its third investment in Sub-Saharan Africa with the acquisition of a specialist aquaculture business headquartered in the Kingdom of Lesotho.
The aquaculture business, SanLeiTM, is a trout producer on the shores of the Katse Dam in the remote highlands of Lesotho, a site known for its deep, pristine waters which create a highly favorable environment for growing premium trout. SanLei translates from Japanese as “where the mountains meet the sky” and evokes its unique, high-altitude location. SanLei produces sushi quality trout primarily for consumption in Japan and South Africa and is the largest facility of its kind in Africa.
“We are truly delighted to announce our first investment in the Mountain Kingdom and believe SanLei will further establish Lesotho as a notable participant in the global trout industry,” said Mr. Hendrik Jordaan, the President and CEO of 1K Africa.
“With 1K Africa’s investment, we believe SanLei can grow into a unique African trout producer and exporter,” said Mr. Willem Schoonbee, Chief Executive Officer of SanLei.
SanLei has secured a strategic marketing and distribution agreement with CGC Japan Co Ltd. (CGC), which has more than 4,000 stores and collective revenues of more than US$40.5 billion, making it Japan’s largest joint procurement supermarket chain. The agreement allows CGC to exclusively sell and market SanLei trout in Japan under its flagship “shizen no ashiato” or “Trace of Nature”TM banner.
This transaction is 1K Africa’s third investment on the African continent, adding to its two other agribusiness portfolio companies, Redsun Dried Fruit & Nuts®, a raisin processor located on the banks of the Orange River in the Kalahari Desert, and Beefmaster®, South Africa’s largest beef exporter.
1K Africa utilizes the Three-Dimensional Capital® of its global investors, leveraging their Relational Capital, Intellectual Capital and Financial Capital for the benefit of its investee companies. This allows the valuable business relationships, insights and expertise of 1K Africa’s industry-leading families to be leveraged within its portfolio companies, enabling them to expand their operations, create more jobs and drive profitability.
SanLeiTM is a trout producer on the shores of the Katse Dam in the remote highlands of Lesotho, a site known for its deep, pristine waters which create a highly favorable environment for growing premium trout. SanLei produces sushi quality trout primarily for consumption in Japan and South Africa and is the largest facility of its kind in Africa.
About 1K Africa
1K Africa is a private capital fund designed to enhance the best of what private equity investment has to offer with the Intellectual Capital, Relational Capital and Financial Capital — or Three-Dimensional Capital® — of industry-leading families. For more information, please visit www.1kafrica.net.BACK TO ALL ARTICLES