Fishing group Sea Harvest will dramatically diversify its food brands basket after mooting a large investment in the local dairy sector. The group, which is controlled by empowerment entity Brimstone, said on Tuesday it would acquire Ladismith Cheese Company for R527m. Sea Harvest CEO Felix Ratheb said Ladismith Cheese would provide Sea Harvest with an ideal platform to build on in the dairy sector through the development and acquisition of additional dairy and allied beverage products. "We are looking to build a bigger black- controlled food company." The deal follows on the heels of Sea Harvest’s R885m acquisition of the Viking fishing Group and 50% of Viking Aquaculture. While the move into the dairy sector might surprise investors, Sea Harvest has long harboured ambitions to play in the broader food sector. Initial tilts at diversification were made in the form of distributing frozen vegetarian and vegan meals, while Australian seafood subsidiary Mareterram is also involved in f...
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