What Agriterra Ltd does

Agriterra Ltd (legal entity PACSCo Limited) is an AIM-quoted Guernsey-incorporated agricultural group focused on investment and sustainable development in Southern Africa, with operational activities concentrated in Mozambique. Founded in 2005, the group runs four divisions — Grain (maize purchasing and milling through wholly-owned DECA and Compagri), Beef (cattle sourcing with own feedlot, abattoir, and limited retail via Mozbife), Snax (corn-based puffed and ring snacks under DECA Snax, consolidated as a subsidiary from FY24), and Biscuits (the Doko Doko brand launched June 2024) — plus a small pork pilot (Carnes de Manica). The business is vertically integrated from smallholder procurement through to retail, with direct relationships with more than 250,000 smallholder farmers supplying maize and cattle.

Revenue is generated through spot/B2B sales of mealie meal, beef, and snacks to wholesalers, supermarkets, catering companies, and informal-market buyers in Mozambique. Headcount sits around 188 employees post-August-2023 restructuring (down from 312), with manufacturing concentrated in Chimoio and a registered office in St Peter Port, Guernsey. FY24 group revenue was approximately $10.39m (down from $11.49m in FY23) across Grain (~$6.2m), Beef (~$3.0m) and consolidated Snax (~$2.1m), with a $3.214m after-tax loss and net debt of $13.83m.

The capital structure is dominated by controlling shareholder Chepstow Investments (formerly Magister Investments, 50.58% of ordinary shares), which has provided cumulative facilities exceeding $13.6m. Following shareholder approval in March 2025, the company has initiated disposal of its Mozambique Agriculture Business and is set to transition into an AIM Rule 15 "cash shell," with FY25 results reflecting an enlarged net loss and auditors flagging material going-concern uncertainty.

Name

Agriterra Ltd

Legal name

PACSCo Limited

Website

https://agriterra-ltd.com

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Agriterra Ltd is an AIM-listed Guernsey-domiciled agricultural group that procures maize and cattle from 250,000+ Mozambican smallholder farmers and sells mealie meal, beef, and corn snacks to wholesalers, retailers, and informal markets in Mozambique through milling, feedlot, abattoir, and snack-extrusion operations.

Ownership category

akta.pro rank

Headquarters

HQ city

St. Peter Port

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Grain Division: Maize purchasing and processing through DECA and Compagri. Operates maize mills, purchases maize from local farmers, processes into mealie meal for sale to wholesalers and retailers. Revenue from mealie meal sales.
2. Beef Division: Sources cattle from local farmers, processes through own feedlot, abattoir and retail units. Sells beef products to wholesale customers (catering companies, supermarkets) and retail customers. Revenue from beef meat sales.
3. Snax Division: Transforms maize by-products (grits from DECA) into flavoured fried and baked snacks (puffs, onion rings). Revenue from snack product sales. DECA Snax is 50% joint venture with Snax for Africa Limited, now consolidated as subsidiary from FY24.
4. Biscuits Division: New biscuit operation commissioned June 2024, trading under brand name Doko Doko. Processes maize into biscuits. Included under Grain division until more established.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Agriterra Ltd (trading as PACSCo Limited) is an AIM-listed agricultural group that processes and distributes maize meal, beef, corn-based snacks, biscuits, and pork products in Mozambique. The company operates vertically integrated divisions sourcing crops and cattle from over 250,000 smallholder farmers and selling branded food products through wholesale, retail, catering, supermarket, and own-retail channels.

Product overview

Agriterra Ltd (trading as PACSCo Limited) is an AIM-quoted agricultural group focused on investment and sustainable development in Southern Africa, primarily operating in Mozambique. The company operates through three main divisions: Grain (maize purchasing and processing through DECA Limitada and Compagri Limitada), Beef (cattle sourcing and processing through Mozbife Limitada), and Snax (maize-based snack production through DecaSnax Limitada, a 50% joint venture). A newer Biscuits division (Doko Doko brand) launched in June 2024 further adds value to grain operations. The company also diversified into pork through Carnes de Manica Limitada in October 2023. The divisions are vertically integrated, with the Grain division supplying maize to Snax and Biscuits, while supporting local smallholder farmers and the broader agricultural ecosystem in Mozambique.

Differentiator

Problem solved

Functional benefit

Brands

• Doko Doko: Biscuit brand launched in June 2024 under the Grain division
• DecaSnax

Products and services

• DECA Mealie Meal Maize meal (mealie meal) produced through milling of maize purchased from smallholder farmers, sold to wholesalers and retailers across Mozambique. Operates from the Chimoio headquarters with established production capacity of 10,882-17,819 tons of mealie meal per year.
• Compagri Maize Products Maize purchasing and milling operation operating alongside DECA within the Grain division, sourcing maize from local farmers for processing into mealie meal and related products.
• Mozbife Beef Products Beef products sourced from local cattle farmers and processed through an owned feedlot, abattoir, and retail units. Sold to wholesale customers (catering companies, supermarkets) and directly to retail consumers in Mozambique, with production capacity of 666-728 tons of beef per year.
• DECA Snax Corn Snacks Corn-based flavoured fried and baked snack products (puffs and onion rings) made from maize by-products/grits supplied by the Grain division. Sold under the DecaSnax brand in various flavours including chicken, with capacity of 1+ million bales of snacks per year.
• Doko Doko Biscuits Biscuit products manufactured from maize, launched under the Doko Doko brand in June 2024. Reported under the Grain division until more established as a standalone business.
• Carnes de Manica Pork Products Pork products supplied to the Mozambican market as part of a field-to-fork initiative diversifying Agriterra's protein offerings beyond beef. Subsidiary is currently dormant.

Quantifiable outcome

• 250,000+ smallholder farmers provided with improved market access and livelihoods
• +1 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor and core.

• World WaternetminorStrategic or Co-development Partner · 17 July 2025Agriterra is mentioned as consortium partner with World Waternet and AUXFIN implementing the ECDD-GIRE programme in Burkina Faso using 3R approach (Retention, Recharge, Reuse) to combat desertification. This appears to be a different context from main Mozambique operations.
• Snax for Africa LimitedcoreStrategic or Co-development Partner50% joint venture partner in DECA Snax Limitada, which produces corn snacks. Partnership enables value-addition to maize production. Company acquired operating control of DECA Snax in FY24 through board resolution, now consolidated as subsidiary with 50% non-controlling interest.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• NWK Holdings Limited: NWK is a South African agricultural company with grain handling, trading, and consumer food operations serving the North West region. Comparable to Agriterra's grain processing and integrated agribusiness model with farmer supply relationships.
• Afgri Group Holdings: Afgri is a South African agribusiness with operations in grain storage, handling, processing, and equipment. Comparable to Agriterra's Grain division (DECA, Compagri) and integrated agribusiness model focused on grain value chain.
• RCL Foods Limited: RCL Foods is a South African food company with operations in baking, grocery, and animal feed through its TSB and Vector Logistics businesses. Comparable to Agriterra's grain processing and broader consumer food operations across multiple categories.
• Astral Foods Limited: Astral Foods is a leading Southern African integrated poultry producer with feed milling operations. Comparable to Agriterra's vertically integrated feedlot and protein processing model, though focused on poultry rather than beef.
• Tiger Brands Limited: Tiger Brands is one of South Africa's largest food manufacturers with a broad portfolio including grains, beverages, and snacks. Comparable as a major Southern African food manufacturer operating across multiple consumer categories with similar distribution and brand-building challenges.
• Senwes Limited: Senwes is a major South African agricultural services and grain storage company serving producers across the value chain. Comparable to Agriterra's procurement model from 250,000+ smallholder farmers and grain handling/processing operations.
• Cargill, Incorporated: Cargill is a global agribusiness with grain trading, processing, and animal nutrition operations including in Africa. Comparable as a major agribusiness player with African grain operations and integrated value chain participation, though at vastly larger scale.

Regional players

• Bakhresa Group: Bakhresa is a major Tanzanian food processing group with flour milling and consumer food operations across East Africa. Comparable as an African food processor operating in maize-based products and consumer foods with similar emerging-market dynamics.
• Namib Mills (Pty) Ltd: Namib Mills is Namibia's leading grain milling company, producing maize meal, wheat flour, and animal feed products. Comparable to Agriterra's Grain division (DECA and Compagri) in the Southern African milling and consumer food model.

Direct peers

• Zambeef Products plc: Zambeef is a vertically integrated agribusiness listed on the Lusaka Stock Exchange with operations spanning beef, dairy, poultry, pork, flour milling, and retail across Zambia and West Africa. Highly comparable to Agriterra's integrated structure across grain, beef, snack, and retail operations in Southern Africa, with similar emerging-market operational challenges.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/agriterra-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Agriterra Ltd