FARMING RETAILER
Kaap Agri adds fuel to acquisition campaign in Gauteng and Limpopo
Kaap Agri, the recently listed farming community retailer, has started revving its engines for an acquisition drive. On Monday, Kaap Agri – which has PSG-aligned Zeder as a large investor – announced the acquisition of three retail fuel operations and properties in Gauteng and Limpopo from empowerment company C-Max Investments and Bird Fuel Trading for R132m. Kaap Agri is an agricultural services conglomerate with a fast-growing retail hub that includes the well-known Agrimark stores as well as convenience stores and liquor outlets. Kaap Agri said the acquisition formed part of the growth strategy for its The Fuel Company (TFC) brand – which comprises retail fuel operations as well as convenience and quick-service restaurant offerings. Kaap Agri estimated that the deal would boost its fuel sales by 20-million litres a year. In the year to end-September the company’s TFC operations sold about 91-million litres of fuel. Kaap Agri CEO Sean Walsh said the fuel operations acquired in Gau...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.