INTRODUCTION OVERVIEW THE BUSINESS STRATEGIC & OPERATING CONTEXT REFLECTING ON THE PROGRESS TO DATE ( CONTINUE )
• Senwes expanded its agricultural equipment product range with the acquisition of a 75 % shareholding in Staalmeester Agricultural Equipment ( effective from 1 October 2018 ) as well as the acquisition of a 100 % interest in Falcon Agricultural Equipment ( effective from 1 November 2019 ).
• Senwes acquired 57,7 % of the issued shares in KLK Landbou , effective from 1 July 2019 , which increased to 57,8 % during the current year .
• In July 2020 , the Competition Tribunal approved KLK ’ s acquisition of an additional 30 % in Carpe Diem Raisins , bringing KLK ’ s effective shareholding to 80 %.
• Effective from 31 October 2020 , the Competition Tribunal approved the merger between Agribel Holdings , Senwes and Suidwes Holdings . The merger increased the group ’ s geographic reach and diversified and expanded the group as follows :
» The expansion of financial services , through the addition of Suidwes ' credit and Raddix ' s insurance clients .
» Protek ( home and garden pest control and plant nutrition ), NviroTek Laboratories and Agrinet ( wholesale supplier and distributor ).
» The expansion of the group ’ s grain infrastructure and operations with the addition of Suidwes ’ silo network to Senwes Grainlink ’ s silo operations .
• The Senwes Group strives to only hold investments that align with its strategic philosophy and is therefore exiting the processing operations of Suidwes . The group sold the pet food operations to an external party , while the interest in Botselo Mills has also been earmarked for sale .
• During the 2022 financial year Senwes established a new company , SS Siloco , to acquire the assets for the divestiture ( Jan Kempdorp , Stryd-poort and Wolmaransstad silos as well as Africum Mills ) as required by the Competition Tribunal as part of the Senwes / Suidwes merger . The business is to be sold to B-BBEEcontrolled entity / entities .
• The KLK service offering was expanded and KLK Makelaars joined Certisure Financial Services Group . Moreover , KLK Credit was launched in collaboration with Agri Credit Solutions .
• KLK acquired the remaining 3,1 % NCI in Carnarvon Abattoir and now owns 100 % of the shareholding .
• Hinterland entered the Mpumalanga and Eastern Free State area through integrated geographic expansion with Agri Credit Solutions .
• Senwes decided to sell its seed business in Orkney , during the period under review . The sale will be concluded in the new financial year .
• Effective from 1 July 2021 , Agrinet was appointed as the exclusive hardware and agricultural distribution partner of Henkel SA .
• Agrinet commenced negotiations with various large retail groups to list Henkel products and create opportunities to introduce the entire Agrinet product range .
• Falcon and Staalmeester are in the process of merging the two companies ’ operations . The two brands are to remain separate .
• Falcon designed and launched various new products into their own , and Staalmeester ’ s product ranges .
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