Afgri buys minority interest in Midway Chix
Afgri, the JSE listed agricultural business in South Africa, acquired a 35% interest in Midway Chix. Midway Chix is a breeder and supplier of day old chicks, with which Afgri has had a relationship with since April 2006.
Afgri now owns the franchise for Hubbard in South Africa, making their poultry operation fully integrated from the grandparent operation, through to the parent operation into broiler production. The hatchery could set about 1 million eggs per week and hatch close to 850 000 day-old chicks over a six day period per week. This hatchery operates at full capacity. Midway Chix comprises of modern and efficient facilities that enjoy economies of scale and its farms are well designed and located to prevent diseases from infiltrating.
At the same time, Afgri is changing the name of Daybreak Farms to Afgri Poultry in order to create a mechanism into which all poultry related business can be housed as well as for clarity of the operational activity.
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