Cargill has moved to buy Zamanita, the cooking oil business of African food group Zambeef.
The US agribusiness giant has struck a deal to pay US$25.7m for Zamanita, which manufactures edible oils and soybean meal in Zambia.
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For the year ended 30 September, Zamanita recorded revenue of US$67.9m, a gross profit of $9.9m and a loss after tax of $2m.
When contacted by just-food, Cargill confirmed the deal but declined to comment further.
UK-listed Zambeef announced in December it was considering offloading the business, which it acquired in 2008.
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Announcing the deal today (3 February), Zambeef said the deal would allow it to focus on its “core business”, the retailing of cold chain meat and dairy products.
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