Investor acquires 30% of frozen fruit exporter
On Monday 5th September, Stellenbosch-based Remgro’s growth capital division (Invenfin), announced t…On Monday 5th September, Stellenbosch-based Remgro’s growth capital division (Invenfin), announced that it had acquired 30 percent of Dynamic Commodities, a specialist producer and exporter of a range of frozen fruit delicacies, for an undisclosed amount.
Over the past 20 years, Dynamic Commodities, an Eastern Cape company based in Coega, has become a leading exporter of an innovative, value-added range of frozen fruit products, including fruit sorbets and various cut frozen fruits, to countries such as the US, Canada, Japan and South Korea.
Invenfin said the decision to buy the stake at Dynamic Commodities was based on a unique high quality product range, the growth potential of the global frozen desserts market and the efficient combination of excellent production capabilities.
Stuart Gast, an executive director of Invenfin, said: “With 95 percent of its revenue from exports, Dynamic Commodities is poised to grow significantly with the rise in global demand for frozen desserts and fruits.
“The current global market for ice cream alone is $50 billion (R723bn) and growing, and the frozen fruit market is also showing exciting growth. With its focus on adding significant value to locally farmed produce through its delicious range of specialist products conceptualised and produced at its plant, Dynamic Commodities matches what Invenfin looks for in a partner.”
One of Dynamic Commodities’ unique products is its fruit sorbet in a fruit shell, which generates significant export revenue and sells in the USA under the Island Way brand. The company said all products were produced from locally sourced fruit at the company’s state-of-the-art, 600 square metre production facility in the Coega IDZ.
Dynamic Commodities said they supported local farmers by sourcing the fruit required for their products from them.