What we do: Fairfield Dairy is a well-established dairy farming company that provides milk products to retailers such as Woolworths, Pick n Pay and Spar. The product range consists of milk, yogurt, milk drinks and juices. Fairfield Dairy operates from its factory in the Kwa-Zulu Natal Midlands area.
Ownership & Management: Fairfield Dairy was founded by Kevin Lang who has longstanding experience in the dairy farming business based in KwaZulu-Natal. Exeo Capital invested in Fairfield Dairy for 7 years and recently existed its shareholding back to the family trust of the founding family. Exeo Capital invested US$4 million in the South African company in 2009 and sold back shares at an attractive return.
Key financial indicators: Fairfields has had a great strategy in focusing on value-added dairy products, such as yogurt, desserts, cheese, rather than commodity-milk products which has resulted in greater multiples of growth over the years. Since Exeo Capital invested US$4 million in Fairfields, it has managed to exit at level over the target return of 3x investment multiple.
Track record: Fairfields has a good quality customer base (Woolworths, Pick n Pay and Spar) which ensures that it products reach consumers across many segments of the country. The company’s supply track record of milk products cannot be disputed given its longstanding relationships with the mentioned South African retailers.
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