ButtaNutt, a South African plant-based dairy alternatives provider, has secured a 54% equity investment from PSG Group.
The transaction, effective May 2025, represents a strong vote of confidence in local entrepreneurship and homegrown innovation.
The founding management team, led by Founder and CEO Antoine van Heerden, retains the remaining shareholding.
Based in Paarl, Western Cape, ButtaNutt has evolved from a single-product startup into a well-known name in South Africa’s food innovation sector.
Its nut butters and dairy alternatives, made with natural, minimally processed ingredients, have gained popularity among health-conscious consumers.
PSG Group Backs ButtaNutt’s Growth Ambitions
PSG Group, a South African investment firm, is known for supporting entrepreneurial businesses with long-term potential.
After delisting from the Johannesburg Stock Exchange in 2022, PSG continues to nurture high-growth ventures.
The investment includes growth capital to expand ButtaNutt’s operations.
The company now produces double the plant-based milk volumes compared to the previous year, thanks to a state-of-the-art processing facility commissioned in 2024. This expansion followed a strategic investment from PepsiCo in 2022 and has boosted employment, with staff numbers growing from 102 to 135.
A Partnership Built on Shared Vision
Dries Mellet, Director at PSG Group, says: “ButtaNutt is a proudly South African business with a brand that resonates. The founders are passionate, and the industry is growing globally. We’re excited to support their next chapter.”
The deal is further strengthened by Tertius Carstens, former Pioneer Foods Group CEO, who now serves on ButtaNutt’s board.
From Side Hustle to Market Leader
Van Heerden’s journey began in 2012, selling roasted macadamias from his Stellenbosch University residence. “I didn’t have a grand plan,” he recalls. “The nut butter idea came by accident, but customers loved it.”
The turning point came when ButtaNutt ventured into nut milks, now its flagship product. “After years of trials and studying U.S. trends, we created a local product that competes globally,” Van Heerden explains.
Dan Hugo, Co-owner & CMO, adds: “We’re more than a food company—we’re storytellers and wellness advocates. This partnership accelerates our mission.”
Next Steps: Expansion & Market Leadership
With PSG’s backing, ButtaNutt aims to:
-
Expand distribution across South Africa
-
Launch new product categories
-
Solidify its position as the plant-based market leader
This investment marks a major milestone for homegrown innovation, reinforcing ButtaNutt’s role in shaping South Africa’s health-focused food future.
