Criterion partially exits South African avocado producer

Criterion Africa Partners has announced the sale of a minority stake in South African avocado producer Selokwe Agri to Mission Produce, Inc., a world leader in the sourcing, production and distribution of fresh Hass avocados with additional offerings in mangos and blueberries.

CAP established Selokwe as part of its higher and better use (HBU) investment strategy, which creates value through the improved utilisation of land, water and labour resources in South Africa and increases employment opportunities in its regional communities. Additional assets were contributed by South African agriculture producer ZZ2, to strengthen Selokwe and position it to become one of the largest avocado producers in the premium growing region of Limpopo, South Africa, with over 1,000 hectares of orchards planned for development.

Mission’s investment in Selokwe is expected to provide a valuable opportunity to tap into the highly productive avocado region in South Africa. The partnership is expected to drive the growth of Selokwe, allowing it to become a key player in South Africa’s avocado growing region.

”We are thrilled to have completed this transaction and look forward to working with Mission to support the growth of their position in Europe and other global markets,” said Ole C. Sand, managing partner at Criterion Africa Partners.