South Africa’s Westfalia Fruit International (WFI) has embarked on a growth strategy that will include acquisitions, setting up operations in new markets, expanding existing operations and integrating operations in North America and Europe.
As a result of these plans, the IFC is considering a USD 100mn secured revolving credit facility as part of a broader USD 300mn facility led by a lead bank to finance this growth strategy.
Should the DFI go ahead with its investment, it will make it the fifth investment in Hans Merensky Holdings, a South African company, which owns WFI.
Expansion details
In new markets, Westfalia Fruit International plans to set up operations such as ripening facilities and pack houses, while it plans to add packing lines, expand ripening and marketing and distribution operations; and integrate existing operations in North America and Europe. Its office in Kenya will grow and a ripening facility will be developed. Further expansion is planned in India (nursery and farm) and China (marketing, ripening and storage facilities).