St George’s Fine Foods said apart from removing Adam Catzavelos from the board of directors of the family-owned business‚ a settlement is being negotiated on his 33% stake in the business.

The family made this statement following the fallout‚ which has included death threats‚ after a video which went viral showed St George’s Fine Foods director‚ Catzavelos‚ who has since been dismissed‚ uttering the k-word on a beach.

In an earlier statement on Wednesday morning‚ the family said it rejected racism in any form. It also said Adam had been dismissed with immediate effect from the family business‚ St George’s Fine Foods‚ and his minority shareholding would be unwound as soon as practically possible.

In an updated statement‚ the family and St George’s Fine Foods said Adam had no operational involvement in another family business‚ Smokehouse and Grill restaurant. It said his passive 25% interest in the restaurant was also being unwound.

“On behalf of both businesses‚ we apologise unreservedly for the hurt and the harm his words have caused‚” the company and the family said in the updated statement.

They said the family was devastated. “We fully understand the outrage his words have rightly caused. We cannot speak on behalf of Adam‚ who will need to face the consequences of his actions on his return to South Africa.”

The family appealed for some measure of calm.

It said members of the extended family and some of its staff and business associates had been threatened and intimidated‚ with death threats made.

“Our primary concern‚ therefore‚ right now‚ is for the safety of the extended family‚ and that of our staff and associates. As stated before‚ we reject racism and seek‚ in our own small way‚ to work for the betterment of this country‚ for our immediate families and for our communities.”

Following the airing of the video‚ a number of companies have cancelled their relationship with St George’s Fine Foods‚ including the restaurant chain The Baron Group.

Meanwhile St. John’s College in Johannesburg declared Catzavelos persona non-grata at the school.

The council and executive management of the school informed him that he was “not welcome on campus until further notice‚” said chairperson of the school council Dr Jon Patricios.