Kaap Agri: Lean times for ‘boere’ Massmart
Unlike US group Tractor Supply, Kaap Agri hasn’t enjoyed much investor love of late. But management has big plans
It’s difficult to believe that about five years ago the listing of Kaap Agri, the agricultural services business controlled by Zeder Investments, was a much-anticipated event for investors that had bought scrip on the old over-the-counter market.
The early 2017 listing got off to a frothy start, with the share price peaking briefly at R65. With its large footprint of Agrimark retail outlets, Kaap Agri was viewed as an interesting alternative retail play — a "boere Massmart", if you will.