The purchase price is R12m.
Afgri said in a statement on Monday that the business has been identified as a valuable strategic asset which fell within the group's growth strategy to expand its core grain management capacity.
The transaction will increase AFGRI's grain storage capacity by 165‚000 metric tonnes to 4.471-million metric tonnes.
The monthly lease payment for the Silo Complexes is R1.1m‚ which will escalate annually in line with the consumer price index.
The deal is subject to conditions including the approval of the South African competition authorities.
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