SOUTH AFRICAN ABALONE FARM ATTRACTS INVESTORS MONEYMarch 23rd, 2016
ABAGOLD SPEAKS WITH BUSINESS ACCELERATORMarch 9th, 2016
FUTUREGROWTH ACQUIRES MINORITY INTEREST IN ABAGOLD LIMITEDFebruary 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.
Abagold hatchery reaches a million spat milestoneFebruary 23rd, 2016
Abagold – The Clive Prins Youth Substance intervention programmeFebruary 22nd, 2016
On the 17th of February 2016, Kwela from KykNet channel, screened a programme on the 2016 L2L walk of which the Clive Prins Youth Substance Intervention Programme, which is funded and was initiated by the Abagold Development Trust and run by the Sustainable Futures Trust, will be the beneficiary of this year. Clive Prins was Abagold’s longest serving employee when he was tragically killed in 2014.
The article also references the Just Care programme, the Abagold Development Trust financial supports this aftercare programme hosted at Mount Pleasant Primary school. In addition an Abagold employee, Thomas Lebitsa spends every afternoon coaching the youth in sport and gives much of his private time too to be with the children.
New wildlife documentary “Wild Treasures” on channel ANN7 ( DSTV 405) features Abagold !February 22nd, 2016
Chinese new year boosts abalone farming in South AfricaFebruary 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.
The Science of the Abalone IndustryNovember 10th, 2015
Abagold speaks with Bruce Whitfield on 702 and Cape Talk regarding “The Science of the Abalone Industry”.
Abagold speaks with Business AcceleratorOctober 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.
New tourism agency to extol virtues of abalone farmingOctober 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.