South Africa-based Sea Harvest Group has announced plans to sell its value-added dairy business Ladismith Cheese Company and Ladismith’s wholly-owned subsidiaries to Woodlands Dairy Group.
Sea Harvest Group said Ladismith is primarily involved in the production, distribution, marketing, and sale of cheese, butter, and milk powders to companies in South Africa and Southern Africa. That portfolio of products matches well with Woodlands, which produces long-life milk, cheese, butter, cream, amasi, custard, and other dairy products.
“This transaction aligns perfectly with our vision to deliver high-quality, sustainable dairy products to a growing market,” Woodlands Dairy Group CEO Helen McDougall said in a release. “By integrating Ladismith’s established regional presence and expertise with our extensive network, we are well positioned to provide customers with an enhanced and more specialized product portfolio.”
Sea Harvest said the sale is in line with the strategic initiatives it presented in early 2025. At the time the company said it was planning to enter a consolidation phase where it would focus on non-core asset disposal and increase efficiencies at its business as it anticipated better results thanks to an increase in the total allowable catch of hake and its acquisition of a pelagic fishing business.
“In-line with the strategic objectives presented to shareholders in early 2025, Sea Harvest intends de-leveraging its balance sheet through the disposal of non-fishing assets, and re-focusing on its seafood businesses,” Sea Harvest Group CEO Felix Ratheb said. “We will utilize the proceeds from the disposal to repay a portion of the long-term debt in our South African operation.”
The transaction is subject to approval by South Africa’s Competition Commission, and Sea Harvest Group said if approved it would close by the end of Q1 2026.
