Sea Harvest Group Limited has informed its shareholders about a proposed sale of its dairy business, Ladismith Cheese Company Proprietary Limited, including all its subsidiaries, to Woodlands Dairy Group.
Ladismith Cheese is involved in producing, distributing, marketing and selling cheese, butter and milk powders across retail, wholesale and foodservice markets in South Africa and Southern Africa. Woodlands Dairy Group’s range includes long-life milk (UHT), cheese, butter, cream, amasi, custard, flavoured milk, extended shelf-life fresh milk, milk powder, dairy desserts and toppings, yoghurt, honey, dips and ice cream.
Sea Harvest Group CEO Felix Ratheb said: “In-line with the strategic objectives presented to shareholders in early 2025, Sea Harvest intends de-leveraging its balance sheet through the disposal of non-fishing assets, and re-focusing on its seafood businesses. We will utilise the proceeds from the disposal to repay a portion of the long-term debt in our South African operation.”
Helen McDougall, CEO of Woodlands Dairy Group commented: “This transaction aligns perfectly with our vision to deliver high-quality, sustainable dairy products to a growing market. By integrating Ladismith’s established regional presence and expertise with our extensive network, we are well positioned to provide customers with an enhanced and more specialised product portfolio.”
Lex Gutsche, Chairman of Woodlands Dairy Group added: “This transaction will expand the Woodlands Dairy Group’s geographical production facility presence, reaching the full breadth of South Africa, bringing us closer to more farmers and customers. I’m also pleased and indeed proud that this transaction will lead to us becoming the largest wholly South African-owned, black-empowered dairy in the country – a clear testament to our belief in South Africa and its people.”
The deal requires approval from the Competition Commission before it can be finalized. The companies expect completion by the end of the first quarter of 2026.