RMB Ventures exits Afrikelp as Stirling Square-backed SAS Group takes majority stake
Stirling Square Capital Partners' portfolio company Sustainable Agro Solutions (SAS Group) has acquired a majority stake in South African agricultural biotechnology company Afrikelp, providing an exit for RMB Ventures, according to Africa Private Equity News.
Stirling Square Capital Partners' investment firm, SAS Group, has acquired a majority stake in Afrikelp, a South African agricultural biotechnology company, according to Africa Private Equity News. This transaction provides an exit for RMB Ventures, which led a management buyout of Afrikelp in 2019 and held the largest share of the company.
Afrikelp, founded in 1971, specializes in seaweed- and plant-based biostimulants derived from kelp harvested off South Africa's coastline. These products aid over 45 crops and are distributed in more than 55 markets globally. The acquisition bolsters SAS Group's position in seaweed-based agricultural biosolutions while expanding its international footprint, especially in the US.
SAS Group, headquartered in Spain, operates in more than 100 countries, producing biostimulants, soil improvers, and specialized plant nutrition products. Under Stirling Square's ownership, SAS Group has made six acquisitions since July 2021, including Biovert, Pevesa Agroscience, Aqua do Brasil, Codiagro, and Ceres Biotics. SAS Group plans to invest a considerable portion of its gains from Afrikelp in the newly unified business, facilitating further growth.
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