Family office PE firm invests in family-owned SA beef business

Beefmaster Holdings is the second agri investment for sub-Saharan African focused fund One Thousand & One Voices.

Family office private equity firm One Thousand & One Voices (1K1V) has made its second agriculture investment, purchasing a minority stake in a South African beef agribusiness. Beefmaster Holdings is a vertically-integrated beef producer and distributor of beef products that was established by the Van Reenen family in the 1700s and is based in the Northern Cape Province of South Africa.

The company will use the investment to expand its capacity and market share as well as increase direct and indirect employment, according to a press release. Its current operations include an abattoir, feedlots, logistics operations and branded retail outlets.

1K1V raises capital from family offices that want to invest financial capital, intellectual capital and relational capital into sub-Saharan assets; what it calls “three-dimensional capital”. The amount raised so far has not been disclosed, but the firm is aiming to inject $300 million into sub-Saharan Africa across the consumer, logistics, agribusiness, financial services, healthcare, education and telecommunications sectors, according to an earlier press release.

South African beef prices are expected to grow 6 percent annually until 2022, according to the South African Bureau for Food and Agricultural Policy.

1K1V’s first agriculture asset was an undisclosed investment into privately-owned South African fruit and nuts processor RedSun Dried Fruit & Nuts.