Deal #3786

Location #1

Spatial accuracy level
Administrative region
Location
Nyanga, Zimbabwe

Target country
Zimbabwe
Comment on location
Claremont Estate

Location #2

Spatial accuracy level
Administrative region
Location
Chimanimani, Zimbabwe

Target country
Zimbabwe
Comment on location
Southdown Estate and Roscommon Estate

Location #3

Spatial accuracy level
Administrative region
Location
Norton, Zimbabwe

Target country
Zimbabwe
Comment on location
Kent estate

Location #4

Spatial accuracy level
Exact location
Location
Chipinge, Zimbabwe

Latitude
-20.112903903559694
Longitude
32.718126507934585
Target country
Zimbabwe

Land area

Intended size (in ha)
7864
Size under contract (leased or purchased area, in ha)
[2012] 1715
[2013] 7864
Size in operation (production, in ha)
[2012] 1715
[2013] 3797
Comment on land area
The company acquired two further estates in 2013-- Roscommon and Clearwater.

Intention of investment

Intention of investment
Food crops, Livestock
Comment on intention of investment
Claremont in Nyanga- a leading producer of apples, stone fruit, passion fruit, trout, potatoes and certified potato seed producer. Southdown in Chimanimani has tea, bananas, macadamia nuts and potatoes. Kent in Norton produces vegetables on a 5-hectare greenhouse plot (certified seed potatoes and a variety of horticultural crops including all year round -tomatoes, pepper,peas and fine beans- also has maize and soya beans along with poultry and cattle. Clearwater estate produces macadamia nuts, tea and avocados. Roscommon Estate produces tea,macadamia nuts and potato.

Nature of the deal

Nature of the deal
Lease

Negotiation status

Negotiation status
[2012] Concluded (Contract signed)
Comment on negotiation status
Ariston was started in 2009, however Afrifresh acquired 61% of shares in 2012. Prior to that the majority of the shares were hold by Emvest Zimbabwe Holdings Limited.

Implementation status

Implementation status
[2010] In operation (production)
Comment on implementation status
It is not clear when the estates were brought into production, however it is likely that this occurred in 2010.

Contract farming

Contract farming
Yes
Not on leased / purchased area (out-grower)
Yes
Not on leased / purchased farmers (out-grower)
2000
Comment on contract farming
Out-grower schemes for tea and bananas with more than 2000 growers participating

Number of domestic jobs created

Jobs created (domestic)
Yes

Operating company

Operating company
Comment on investment chain
Listed on the Zimbabwean stock exchange. Afrifresh acquired Emvest's shares and were issued new shares in 2012, taking total shares to 61%.

 

Network of parent companies and tertiary investors/lenders. Please right-click the nodes to get more details.

Legend
  • Is parent company of
  • Is tertiary investor/lender of
  • Left-click to reveal related parent companies and tertiary investors/lenders.
  • Right-click on investors to get more information.
  • Left-click to hide related parent companies and tertiary investors/lenders.

Data source #1

Data source type
Media report
File
Date
2012-04-12
Comment on data source
Farming Portal-- Zimbabwe: Afrifresh Takes Over Ariston

Data source #2

Data source type
Media report
File
Date
2012-02-23
Comment on data source
Farmland Grab-Zimbabwe: Afrifresh to acquire Ariston Holdings stak

Data source #3

Data source type
Media report
File
Date
2012-02-02
Comment on data source
The Herald Online- Emvest pulls out of Ariston Holdings

Data source #4

Data source type
Company sources
File
Comment on data source
Company website

Data source #5

Data source type
Company sources
File
Comment on data source
Abridged Audited Financial Results for the year ended 30 September 2015

Data source #6

Data source type
Company sources
File
Comment on data source
Annual Report 2011

Data source #7

Data source type
Media report
File
Date
2016-01-08
Comment on data source
News Day- Ariston Holdings records loss

Data source #8

Data source type
Media report
File
Date
2013-12-30
Comment on data source
Daily News- Ariston posts $2,4m profit

Data source #9

Data source type
Media report
File
Date
2013-02-22
Comment on data source
The Zimbabwe Independent-- … as Ariston starts enjoying fruits of recapitalisation

Promised benefits for local communities

Promised benefits for local communities
Health
Education

Former land owner (not by constitution)

Former land owner
Private (large-scale farm)
Comment on former land owner
Emvest Zimbabwe owned 40% of shares (majority shareholder) prior to 2012 (changed from domestic deals to transnational deal in 2012).

Former land use

Former land use
Commercial (large-scale) agriculture

Former land cover

Former land cover
Cropland

Detailed crop, animal and mineral information

Crops area
Apple, Banana, Corn (Maize), Fruit (unspecified), Peas, Potatoes, Seeds Production (unspecified), Soya Beans, Tea, Tomatoes, Vegetables (unspecified), Pepper
Livestock area
Cattle, Fish, Poultry

Use of produce

Has domestic use
Yes
Has export
Yes
Country 1
United States of America
Country 2
India
Comment on use of produce
The company is looking into the South African market. Favco distributes the vegetables to the local market. Tea for local and export market. Over 65% of Ariston teas are exported primarily to Europe, USA and increasingly to India and Africa. Vegetables also for local and export market.

In country processing of produce

In country processing of produce
Yes
Comment on in country processing of produce
Tea processing

Water extraction envisaged

Water extraction envisaged
Yes

Overall comment

Overall comment
Ariston operates five estates. They include Claremont in Nyanga- a leading producer of apples, stone fruit, passion fruit, trout, potatoes and certified potato seed producer. Southdown in Chimanimani has tea, bananas, macadamia nuts and potatoes. Kent in Norton produces vegetables on a 5-hectare greenhouse plot (certified seed potatoes and a variety of horticultural crops including all year round -tomatoes, pepper,peas and fine beans- also has maize and soya beans along with poultry and cattle. Clearwater estate produces macadamia nuts, tea and avocados. Roscommon Estate produces tea,macadamia nuts and potato. Ariston also owns Favco, which distributes a wide range of fresh produce (locally)-- operations at FAVCO have been discontinued. The tea distribution has been changed from FAVCO to Brands Africa. The farms are mechanized.

Feb. 12, 2016, 9:44 a.m.

overwritten

This version

Compare with previous version

Feb. 10, 2016, 8:27 a.m.

overwritten

Show this version

Compare with previous version

Feb. 9, 2016, 8:59 p.m.

overwritten

Show this version

Compare with previous version

Feb. 9, 2016, 9:57 a.m.

overwritten

Show this version

Compare with previous version

Feb. 2, 2016, 3:43 p.m.

overwritten

Show this version

Compare with previous version

July 15, 2013, 3:46 p.m.

overwritten

Show this version

Compare with previous version

June 3, 2013, 4:22 p.m.

overwritten

Show this version

Compare with previous version

June 3, 2013, 4:21 p.m.

active

Show this version

First version

There are no comments to this deal yet.

Add a comment

(mandatory)
(mandatory)
(mandatory)

I've read and agree to the Data Policy.