What was started by Antoine van Heerden during his final year of mechanical engineering studies at Stellenbosch University (SU), when he began roasting and blending nut butters for sale at local markets, is now a South African market leader in plant-based dairy alternatives.
The aptly named ButtaNutt has secured a 54% equity investment from the PSG Group. The transaction was effected last month, with the remaining shareholding retained by the founding management team, led by Van Heerden, founder and CEO.
These days ButtaNutt is no longer bound to campus and is based in Paarl. It has grown from a single-product start-up to a well-established name in the local food innovation landscape.With a focus on natural, minimally processed products, its range of nut butters and dairy alternatives has found favour with South African consumers looking for healthy and delicious food choices.
The investment by PSG Group includes growth capital to support ButtaNutt’s expansion.
Growth through innovationButtaNutt currently produces double the plant-based milk volumes compared to the prior year. This significant increase in capacity was made possible by the commissioning of a state-of-the-art processing and packaging facility in 2024, following a strategic investment from PepsiCo in 2022.
This capacity expansion has also driven job creation with the company now employing 135 staffers.
Prior to this, when they moved to the new Paarl facility in 2022, the business had 102 employees.
Dries Mellet, director at PSG Group, says the decision to partner with ButtaNutt aligns with the ambition to partner with strong management teams to build large, profitable South African businesses.
“ButtaNutt is a proudly South African business, and they’ve built a brand that resonates with consumers. The business is led by entrepreneurial founders who are passionate about what they do. ButtaNutt is a fast-growing business in an industry that is growing globally and we are excited to be part of its next chapter,” Mellet says.
From humble beginnings
The investment is further strengthened by the involvement of Tertius Carstens, former CEO of the Pioneer Foods Group, who now serves on the ButtaNutt board.
What began as a side hustle selling roasted macadamias from Van Heerden’s university residence in 2012, has grown into one of South Africa’s most inspiring small business success stories.
“Back then, I didn’t have a grand plan,” he recalls.
“I was a second-year engineering student at Stellenbosch, just trying to do something creative with my parents’ macadamia harvest. The nut butter idea came almost by accident. But from the start, there was something special about the product, and the feedback we got from customers was overwhelmingly positive.”
From grinding nuts in his digs and selling jars at local farmers’ markets, Van Heerden’s commitment to the craft and passion for entrepreneurship has taken the business through every phase of growth.
The turning point came when ButtaNutt began to experiment with nut milks, which have become its flagship products.“Nut milks became our big bet,” Van Heerden explains.
“After years of trials, some travel to the United States to study market trends, and finally, a lot of investment into infrastructure, we managed to create a local product that could compete with international alternatives, with a proudly South African flavour.”
Health and wellness
Dan Hugo, co-owner and chief marketing officer at ButtaNutt adds: “We have always positioned ourselves as something a little different than a food company. We are storytellers, community builders, and wellness advocates.
Every product we develop starts with a purpose.
“We want to nourish people, support local supply chains, and be part of a healthier future. We’ve been fortunate to have customers and partners who believe in that mission. This partnership takes our vision and mission to the next level.”
