GB foods, a leading multinational food company with headquarters in Barcelona has partnered with Helios Investment Partners, a premier Africa-focused private investment firm to create one of Africa’s largest FMCG businesses.
GB foods Africa Holdco B.V, the offshoot of the partnership, has acquired assets from various African companies including major brands like Jago (milk powder and mayonnaise), Jumbo (bouillon), Gino and Pomo (tomato paste) as well as Bama (mayonnaise), and distribution rights for Africa.
The deal also includes the establishment of three production plants in Africa: one in Ghana and two in Nigeria, and is expected to incorporate more than 600 workers from different nationalities. This will result in a leading pan-African culinary products company with presence in over 30 African countries.
With the transaction, GB foods is asserting its leadership position as one of the most influential international groups in the food industry, consolidating its commitment to Africa.
Till date, business conducted on the African continent contributes about 20% of the Group’s total turnover.
The Spanish multinational currently manufactures more than 4,000 million Jumbo cubes every year for the African market. The growth of the product portfolio and the acquisition of new assets will enable GBfoods expand its presence in Africa, becoming a reference in the African households.
“With this acquisition we strengthen our position in Africa, being present in 30 countries, including key countries like Nigeria and Ghana, with enormous potential for growth. We also expand our portfolio of products with popular and well-known brands such as Gino, Pomo, Jago and Bama, introducing us to new strategic categories such as tomato, milk powder and mayonnaise. From now on we can proudly say that GBfoods has doubled the number of consumers in Africa to become part of the daily food of millions of Africans”, explains Ignasi Ricou, Chief Executive Officer of GBfoods.
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