Agri-Vie buys stake in Dew Crisp
Agri-Vie, the sub-Saharan private equity fund investing in food and agribusiness, announced on Tuesday, 2 February 2010, it had acquired, for an undisclosed amount, a substantial equity stake in Dew Crisp, which has an estimated 28% share of the major supermarket convenience salad market in South Africa.
Avril Stassen, investment adviser at Agri-Vie, says the changes in local eating habits follows similar trends globally, as people move towards eating fresher ingredients and away from processed foods.
He says a burgeoning South African middle to upper class will serve to increase demand for Dew Crisp's products.
"Recent studies have shown the number of affluent South Africans is not only far higher but growing faster than previously thought.
"Coupled with a change in lifestyles that has seen a rise in single-person and double income households and more education about the benefits of healthy eating habits, this indicates huge potential for the convenience salads market," he adds.