The Public Investment Corporation (PIC) has agreed to buy Karan Beef, which is Africa’s largest cattle feedlot.
Karan Beef was started by the Karan family farm in 1974, and the company is still fully owned by Ivor Karan.
Situated just south of Johannesburg, Karan Beef’s Heidelberg farm occupies 2,330ha and accommodates 150,000 head of cattle.
Karan Beef has the capacity of processing 2,040 head of cattle every day and the ability to debone 300 tons of meat per day.
Apart from serving the South African market, Karan Beef is approved to export to UAE, Kuwait, Qatar, Bahrain, Oman, Jordan, Egypt, Mauritius, Seychelles, Maldives, People’s Republic of China and Hong Kong.
It is understood that Karan Beef’s management team will remain in place after the acquisition.
The value of the deal is R5.2 billion.