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Padenga Holding Will Meet 43,000 Crocodile Target

Padenga Holdings Ltd., a crocodile-farming unit of Innscor Africa Ltd., will meet its target of 43,000 hides this year.

The company, based on Lake Kariba in northern Zimbabwe, will kill over 40,000 crocodiles with an average 36.6 centimeter (14.4 inch) belly width, Gary Sharp, chief executive, said at a company presentation.

“We’ve had an immensely succesful start. In fact, it’s the best we’ve ever had,” Sharp said. Demand for quality skins remains strong, he said.

The company, which also owns Lone Star Alligator Farms LLC in Winnie, Texas, said its U.S. operation slaughtered 1,833 “medium-sized” animals in April.

“The operation currently has 20,059 animals on the ground. Of these, 15,200 will be culled in October and 4,800 will be carried forward to 2015.

Innscor, which owns Zimbabwe Stock Exchange-listed Padenga, also owns fast food outlets in several African nations, bakeries, millers, Colcom Holdings Ltd., a pork producer, and miller National Foods Holdings Ltd. in Zimbabwe.

To contact the reporter on this story: Brian Latham in Harare at blatham@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net Claudia Carpenter, Ana Monteiro

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