Sea Harvest Group has finalised the sale of Ladismith Cheese Company to Fairfield Dairy in a deal worth around R840 million.
The deal was announced in November, in which Sea Harvest said that it would sell 100% of the issued share capital of Ladismith Cheese Company Proprietary Limited.
Fairfield Dairy is a wholly owned subsidiary of Woodlands Dairy Proprietary Limited, one of the nation’s largest manufacturers of dairy and dairy-related products.
Sea Harvest said that it would dispose of Ladismith Cheese to Fairfield Dairy for an amount determined on an enterprise value of Ladismith Cheese equal to R840 million in November.
The deal would be adjusted upward or downward to reflect cash, debt, and working capital adjustments. The purchase price could not exceed R850 million.
Sea Harvest said that the proceeds from the sale of Ladismith Cheese would be used to repay a portion of the long-term debt of Sea Harvest’s South African business.
At the start of 2025, Sea Harvest announced plans to reduce its debt by 50% over three years. It thus decided to dispose of non-fishing assets and focus on its seafood businesses.
Ladismith Cheese represents the largest non-fishing asset available for sale under this strategy.
The proceeds of the Ladismith Cheese Disposal will be used to repay a portion of the long-term
debt of Sea Harvest’s South African business.
As of the six months ended 30 June 2025, Ladismith Cheese’s profit after tax amounted to R32 million, and its net asset value amounted to R980 million.
Sea Harvest has now announced that the deal has gone through, following the extension of its longstop date to 30 June 2026.
The company received approval from competition authorities, with the disposal becoming unconditional and closing on 8 May 2026.
Ladismith Cheese history
Ladismith Cheese Company is situated in Ladismith, in the western Klein Karoo region of South Africa.
Cheese from the region has been manufactured since 1940, and since its inception in June 1999, Ladismith Cheese has joined this proud tradition.
The company makes a variety of cheese, butter, and milk powder products available in supermarkets throughout South Africa’s major centres.
This secured the company’s position as a household name for many South African consumers.
The company started operations with a milk intake of 15,000 litres per day and initially produced only Gouda and cheddar cheese.
In the years since inception, a large variety of products were added to its portfolio, including speciality cheese such as Edam, Ladismithers, Mature Cheddar, White Cheddar, White Gouda and Mozzarella.
The company also diversified its dairy business to include butter, which it began producing in 2022.
The company also completed its first powder plant in 2004, producing milk powder, buttermilk powder, whey powder, and coffee creamers.
Given its massive expansion over the last 20 years, the company’s daily milk intake has exceeded 200,000 litres, with roughly 700 tons of cheese and 200 tons of butter produced monthly.
The companies’ products are sold through the food services, retail, wholesale and food production industries throughout South Africa and some Sub-Saharan African countries.
Photos of Ladismith Cheese Company
