(Ecofin Agency) - Sovereign Foods, a poultry producer in the portfolio of South African private equity CapitalWorks, acquired Blue Hills Hatchery for an undisclosed amount.
Thanks to this acquisition, Sovereign Foods becomes the fourth poultry producer in South Africa and is boosting its chicks' supply capacity.
This is the third acquisition realized by Sovereign Foods since 2015 when it initiated its expansion strategy.
Four years ago, the producer bought the slaughterhouse Tydstroom at ZAR120 million. It later signed a poultry purchase agreement with Cultiver Investments Ltd.
In 2017, CapitalWorks acquired Sovereign Foods via its investment vehicle Gallus Holdings.