'Farmer Angus' lends money to staff to buy his egg business, boosted by Checkers
Human beings are committing species wide suicide using agriculture as the weapon of choice. The world’s food production is in crisis and I have a plan to change that.Angus McIntosh, founder - Farmer Angus
Angus McIntosh grew up on a farm in Kwa-Zulu Natal.
After studying Management Accounting at Stellenbosch University, he became a stockbroker for Goldman Sachs in London.
Four years on, after declining a promotion, he returned to South Africa and became a farmer on land he leases from the world-famous Spier outside of Stellenbosch.
“They are amazing landlords,” says McIntosh.
Empowering his staff
McIntosh sold 85% of his egg business to staff members (who kept the brand), providing the finance himself.
Unlike traditional finance deals, we didn’t go to a bank. I vendor-financed it… forcing me to stay involved in the business. Empowerment deals in agriculture often fail because previous owners walk away.Angus McIntosh, founder - Farmer Angus
A boost from Checkers
That egg business then got a huge boost from Checkers, who struck an interesting supply contract with it.
Farmer Angus Eggs will supply the retail giant’s flagship Constantia and Stellenbosch stores.
They [staff member owners] are going to start earning dividends soon!Angus McIntosh, founder - Farmer Angus
We’re super-excited about this collaboration with Checkers… pushing regenerative agriculture… not destroying the land… it’s completely scalable.Angus McIntosh, founder - Farmer Angus
McIntosh calls his eggs “beyond free-range”.
Chickens roam around the farm, spreading manure on the land, thereby naturally regenerating it.
For more detail, listen to the interview in the audio below.
This article first appeared on CapeTalk : 'Farmer Angus' lends money to staff to buy his egg business, boosted by Checkers
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