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FUTUREGROWTH ACQUIRES MINORITY INTEREST IN ABAGOLD LIMITED

February 26th, 2016

Hermanus, Western Cape – Abagold Limited, a diversified aquaculture business in on-land abalone production, announced that Futuregrowth Asset Management had purchased a significant minority stake in the company from existing shareholders.

Abagold Limited successfully operates its on-land abalone farming operation in the town of Hermanus, where it was established over 22 years ago. This publicly traded company has been growing organically but steadily over the past ten years, and now produces in excess of 500 tons of abalone per year, making it the largest abalone farm in South Africa. Recent expansions have brought attention to its operations as it more than doubled capacity in the past four years.

“The timing and the natural synergies between Abagold and Futuregrowth were what attracted Abagold to approach Futuregrowth when it became known that a few minority shareholders wished to sell shares in the company”, explained Tim Hedges, MD of Abagold, who went on to say, ” we respect the position that Futuregrowth holds in the agricultural investment space and look forward to pursuing our aggressive local and international expansion plans with them on board as part of our shareholder body”

It is believed that this sector will continue to perform strongly, especially in the current weak and unstable rand environment, as an essential component of this strategic growth sector identified by Government and promoted by it under the auspices of Operation Phakisa.

“From a Futuregrowth perspective, this acquisition of a minority stake in Abagold aligns with our strategy to invest our clients’ funds in high-impact, developmental sectors. Futuregrowth have been pioneers in the developmental investment space, and we are excited to include this investment in Abagold in our developmental portfolio,” Sarah De Villiers, an investment analyst at Futuregrowth commented.

Abagold was founded in 1993 and current employs over 500 people in Hermanus, where it farms the abalone as well as producing a range of specialized aquatic feeds for the aquaculture industry.

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Chinese new year boosts abalone farming in South Africa

February 8th, 2016

Abalones, or marine snails, are a much sought-after delicacy in Asia with demanding peaking around the Chinese New Year. Outside of Asia, South Africa is the largest exporter of farmed abalone – destined almost exclusively for the Chinese market. From Hermanus on the southern coast of South Africa, the BBC’s Jason Boswell finds out more for Africa Business Report.

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November 10th, 2015

Abagold speaks with Bruce Whitfield on 702 and Cape Talk regarding “The Science of the Abalone Industry”.

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Abagold speaks with Business Accelerator

October 29th, 2015

An interview with Cape Talk – Business accelerator – a radio station initiative that creates opportunities for small and medium size businesses to showcase their companies by talking to Pavlo Phitidis and the Cape Talk presenter of the morning show, Keeno Cummings.

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New tourism agency to extol virtues of abalone farming

October 14th, 2015

A new business venture at the new harbour was launched in style on Friday and marked an exiting new chapter for the tourism industry in Hermanus.  Johan Hugo, formally the financial director for Abagold, took a leap of faith to quit his day job and follow his dream to establish Heart of Abalone, a tourism company offering tours and talks on abalone farming. Hugo partnered with Abagold for this venture with the base of operations, the Heart Shack, situated next to the abalone farm at the new harbour.

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Abalone Company Creates More than 120 Jobs – Thanks to R5.6 Million Incentive From the DTI

December 19th, 2014

Abagold Limited, a company that farms abalone in Hermanus, Western Cape is one of the few companies that have already accessed the Department of Trade and Industry’s (the dti) Aquaculture Development and Enhancement Programme (ADEP) incentive and has already created  120 new jobs.

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Abagold crowned by chamber

December 9th, 2014

Abagold Limited in Hermanus, which farms abalone for export, was the judge’s choice for the Transnet National Ports Authority for the best non-manufacturing exporter of the year at the Cape Chamber of Commerce and Industry Exporter of the Year function on 28 November.

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Abagold receives prestigious national innovation award

December 3rd, 2014

Abagold, an abalone farming and aquatic feed company, was announced the national winner of the Innovation Award at the Productivity SA awards function held in Johannesburg on 30 October. Abagold won the award for their innovative new water reticulation system designed by their engineering manager, Christiaan de Wet.

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