Lonrho Signs US Fish Supply Pact With Wal-Mart For 500 Stores

Africa-focused investment firm Lonrho PLC (LONR.LN) said Monday that its Oceanfresh seafood division has signed a deal with Wal-Mart Stores Inc. (WMT) to supply 500 of its U.S. stores with Hake fish fillets from October.

The Oceanfresh fillets come from wild, sustainably sourced, white Hake, fished in the deep waters in the Benguela current off the coast of southern Africa. Hake is a new line for Wal-Mart, Lonhro said.

Oceanfresh is among the first South African companies to supply seafood to Wal-Mart's U.S. operations. As a result of this new partnership, Oceanfresh has expanded its production capabilities in South Africa and this contract will stimulate over one hundred new direct jobs and hundreds of new indirect jobs to meet the new Wal-Mart orders, it said.

Lonrho shares closed Friday at 17.75 pence.

-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com

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