Vuna Partners make A-grade acquisition with 40% stake in Ferreira Fresh
Press release
April 2024
Vuna Partners make A-grade acquisition with 40% stake in Ferreira Fresh
ROSEBANK, Johannesburg, South Africa (April 2024) – Vuna Partners Fund I, the en commandite partnership managed by Vuna Partners Proprietary Limited (“Vuna Partners”), announces its recent acquisition of a 40% equity stake in Ferreira Fresh (Pty) Ltd, trading as “Ferreira Fresh”, a family-run fresh and frozen produce provider with a delivery footprint spanning Gauteng as well as neighbouring provinces.
Ferreira Fresh was established in 2016 in the back of a hotel kitchen in Bramley, Johannesburg with the aim of being the market leader in the fruit and vegetable market. Keanu’s father, Lino Ferreira, a seasoned professional in the fresh fruit and vegetable industry, joined the business as CEO the following year. In the 8 years since opening their doors and under the leadership of Keanu and Lino Ferreira, the company achieved remarkable growth, having quadrupled their staff and increasing their operational capacity from a modest 65 square meter operation to a state-of-the-art 2,000 square meter facility in Sandton, Johannesburg.
With an emphasis on customer service and quality, the company supplies a range of over 200 products which include cut, peeled, sliced, diced and whole fruit, vegetables and fresh herbs. The company’s fleet of branded refrigerated vehicles has an impeccable track record. With a delivery footprint that spans Gauteng, Mpumalanga and the Free State, they are known for reliably servicing their clients who operate across the hospitality, retail and corporate sectors.
Despite the challenges brought on by the COVID-19 pandemic, Ferreira Fresh still achieved impressive revenue growth. Proof that success occurs when opportunity meets preparation, management was able to actively respond to the increased consumer demand for healthier products during lockdown.
“We’re confident that our partnership with Ferreira Fresh will open up possibilities and unlock meaningful value for the company. Backed by the experience and support of their best-of-breed management team, we’ve developed actionable value creation strategies to unlock transformational opportunities.”
Ferreira Fresh is the fifth addition to the Fund's investment portfolio, following the acquisitions of VO Connect and The Bed Shop in 2023. As with Vuna Partners' previous acquisitions, Ferreira Fresh represents the profile of a company that is typical of the Fund's investment mandate – a high-quality medium-sized business, with a management team of exceptional capability, that is primed to deliver long-term growth.
