25 July 2011 – agreement with Walmart
Lonrho’s seafood division, Oceanfresh, has announced that its pure Hake Fillets will be sold in 500 Walmart stores in the US from October 2011. Oceanfresh is among the first South African companies to supply seafood to Walmart’s U.S. operations. The sheer scale of Walmart’s operations makes this an interesting deal and can only benefit Lonrho. We continue to rate the shares as a LONG TERM BUY.