Sea Harvest is buying Ladysmith Cheese Company through its Cape Harvest subsidiary as it diversifies into complementary food and agricultural sectors where it sees the potential for growth. Ladysmith Cheese was established in 1999 and produces, distributes and markets dairy products to the retail, wholesale and foodservice markets. Sea Harvest said it would settle the deal with available cash and/or facilities. It will pay R527 million for the Western Cape-based company, whose current shareholders include a number of family trusts. To help fund the transaction, it will place stock worth up to R300 million with parent company Brimstone Investments at about R14 per share. Click here to read more of Sea Harvest’s plan to buy Ladysmith Cheese. – INCE Connect