CBJ - July 26 - Lonrho Plc, a U.K. holding with stakes in transportation and agribusiness companies in Africa, have revealed that a deal by its Oceanfresh unit to supply seafood to Wal-Mart Stores Inc. will markedly increase its sales in the U.S.

The agreement to sell South African wild hake filets to 500 Wal-Mart stores will potentially double business in the States, as it has already supply 435 stores owned by Costco Wholesale Corp.

“We are seeing continuing demand from retailers in the U.S. for South African produce, and this deal will grow the company’s revenue nicely,” said Chief Executive Officer Geoffrey White.

Oceanfresh, 51 per cent owned by Lonrho, will add more than 100 jobs in South Africa as a result of the deal, according to a regulatory filing today. Lonrho’s agribusiness division, which includes Oceanfresh, accounted for about half of the company’s first-half revenue of 61.1 million pounds ($99.5 million).

The Wal-Mart deal will not affect other global supply agreements signed by Oceanfresh, which is 41 per cent owned by management. The company supplies all the major retailers in South Africa, plus others in Canada and Asia.