The Company is a subsidiary of Hans Merensky Holdings (Proprietary) Limited (HMH), an existing IFC client (IFC/R2012-0367). HMH is a South African vertically integrated fruit and forestry business with a global footprint that is involved in farming, processing, and marketing of timber and fruits. HMH is owned by the Hans Merensky Foundation (40.02 percent), the Industrial Development Corporation (IDC) of South Africa (29.7 percent) and IFC (20 percent).  The remaining shareholders are three Broad-Based Black Economic Empowerment (BBBEE) organizations namely Vuka Forestry Holdings (Vuka) (4.03 percent), Women Investment Portfolio Holdings (3.30 percent), and HMH Employee Share Ownership Plan (2.95 percent).

HMH fully owns Westfalia Fruit (Pty) Ltd, which in turn owns 67.8% stake in WFIL. Other WFIL shareholders are: Caltha LLC (formerly Harvard University Foundation) (21.6%) and  Inversiones Agroindustriales Limitada (10.6%).

The Project will support WFIL’s US$300 million investment program comprised of: (i) planned acquisitions and investments in new facilities and in new markets such as Kenya, Tanzania, China, India, Italy,  Spain,  and the US, with the investments in countries such as Italy, Spain and the US being part of the push-pull strategy to service production in developing countries; (ii) expansion of existing facilities mainly in Europe, South Africa and South America; (iii) expansion and maintenance of orchards and nurseries in key primary production areas (Colombia, India, Mozambique, South Africa, Mexico and Peru); and (iv) working capital.

IFC is looking to provide an own account A Loan of up to US$100 million in US dollars or Euros.                                            

 The proposed investment will support the Company’s capacity expansion and operational improvements in China, Colombia, India, Italy, Kenya, Mexico, Mozambique, Peru, South Africa, Spain, Tanzania and the US.

 Not applicable.