Moumo Integrated Development (Pty) Ltd (“Moumo”), a development agent of the Royal Bafokeng Nation (“RBN”), has acquired Lusitania Food Products (“Lusitania”) after receiving approval from the Competition Commission.
Moumo was established in 2013 to create a supportive environment for progress through the development of owned and leased property for the Bafokeng people, a Setswana-speaking traditional community situated in the North West Province of South Africa.
With over 30 years’ of experience in the food service industry and a range of over 1 200 products from different suppliers including vegetable, chicken and pork products, Lusitania will establish new market opportunities, expansion projects as well as access to a national supply footprint for local agricultural businesses operating in the North West region. The new company will be known as Lusitania Distributors (Pty) Ltd.
The conclusion of the Lusitania acquisition by Moumo is part of the implementation of the RBN’s Master Plan and development strategy. This strategy is aimed at ensuring an appropriately diversified economic landscape characterised by a skilled workforce.
Commenting on the strategic importance of the deal, Teresa le Roux, CEO of Moumo said, “One of Moumo’s core objectives is the establishment of sustainable commercial agriculture industries and integrated value chains for farmers in and around the Bafokeng region. Lusitania’s acquisition will enable Moumo to assist these farmers with off-take and sustainable markets for their produce, enable them to access funding and/or scale their business with increased off-take from Lusitania. RBNDT, through its subsidiary, Moumo, therefore decided to acquire the majority shareholding in Lusitania as the first step in the establishment of commercial agriculture on RBN land.”
CEO of Lusitania, Brian Kusel added, “Post the conclusion of this agreement, Lusitania is set to strengthen its position in a traditionally competitive market, from a commercial and empowerment perspective, combined with a level 2 BEE score. We are delighted to be a part of the Bafokeng family and believe that this deal offers our suppliers and customers the opportunity to meet their enterprise and supplier requirements while at the same time making a positive economic and social development impact for the region.”
Brunswick on behalf of Moumo