Secha Capital VCC backs SA biltong brand, Stoffelberg
Secha Capital VCC, an approved section 12J company, has invested an undisclosed amount in Stoffelberg Biltong, South Africa’s fastest-growing biltong brand.
Stoffelberg Biltong, led by a team with years of game and beef expertise, is in ~100 Spar and Shoprite/Checkers stores across the country.
Its healthy, high-quality product is “finally a packaged biltong that South Africans can be proud of.”
The team has over 70 years of experience in meat business.
Stoffelberg’s founder Oom Stoffel and his team have ensured that the business is integrated throughout the value chain, making sure he gets the highest quality animals, controls the production process to ensure cleanliness, and ensures that all the ingredients are 100% natural.
Secha Capital, a patient capital impact investment holding company that invests in FMCG and agribusiness South African companies, is “proud to partner with Stoffelberg Biltong,” said founder, Brendan J. Mullen.
“Biltong is a big market and it’s beloved in this country. But it’s also a dormant market. We want to help build the Stoffelberg brand by earning the trust and loyalty of customers and invigorate the biltong market with a fresh, healthy product at an affordable price,” he said.
The South African Biltong market is large, defensive, fragmented and, most importantly (and surprisingly), dormant.
Mullen said: “When we surveyed consumers, the top purchasing criteria cited were taste, mouth-feel and quality. Amazingly, only 10% of respondents said they have a “go-to brand”, and when asked why, it was not for taste, mouth-feel or quality, but instead out of “habit, convenience, or value.” This is the quintessential “grudge purchase”.
Stoffelberg and Secha plan to invigorate this dormant category. Secha’s goal in joining the Stoffelberg team is expand the reach of Stoffelberg Biltong.
That means expanding sales channels and the number of points of sales.
It includes working with retailers so that Stoffelberg differentiates itself from the current “grudge purchase” selection.
It means marketing at local events as well as speaking to our consumers in person and on social media.
And it also means expanding the use case, occasions and consumer segments for biltong to more than just a snack around a braai; after all, it’s delicious, filling and healthy and many people can enjoy this “South African Superfood.”
Oom Stoffel, Stoffelberg founder, said: “We are thrilled and proud to partner with the team at Secha Capital. We know meat. We know biltong. By working together, we can bring additional growth capital and build out the sales and marketing team so that more people can gain access to our delicious, quality biltong.” Source: Africa Global Funds