ZZ2

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ZZ2 Beherend Pty Ltd (“ZZ2” or the “Company”) is a privately held horticultural business operating in South Africa. The company predominantly produces tomatoes and avocados and manages ~4 500 hectares of irrigated land, including nurseries, farming operations, and packhouses. ZZ2 supplies domestic and export markets through direct partnerships with wholesalers and exporters.IFC’s proposed investment package comprises of a (i) Senior A loan of ZAR900m (US$52m) in Bertie Van Zyl (Pty) Ltd, a subsidiary, and (ii) redeemable non-convertible preference shares (“preferred equity”) of ZAR100m (US$5.8m) in ZZ2. The senior A-loan investment in the subsidiary will be utilized in refinancing of an existing loan and financing expansion of farming operations in the subsidiary. While the preferred equity investment will primarily be utilized in funding expansion of farm operations. Expansions include the development and re-working of avocado orchards, installation of tomato net houses and expansion of captive solar PV projects.