CATTLE FEEDLOT
Management of Karan Beef could seek PIC finance to buy family-owned company
The managers of the continent’s largest cattle feedlot is considering buying part or all of it from Ivor Karan
Karan Beef, the continent’s largest cattle feedlot, is considering a management buyout that will value the company, based south of Johannesburg, at about R6bn, according to two people familiar with the matter. The management of Karan Beef may approach the Public Investment Corporation (PIC), which manages pension funds of South African government workers, to help it with funding, said the people, who asked not to be identified because the information was not public. The managers were considering buying a part or all of the business, depending on the finance available to them, the two sources said. Founded by the Karan family on their farm in 1974 with fewer than 100 head of cattle, the company now owns a herd of about 150,000 and has also bought three adjoining farms, an abattoir and a nearby distribution centre, according to its website. Karan Beef is a closely held company and does not comment on market speculation, the company said. It is still fully owned by Ivor Karan, one of t...
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.