GBfoods, Helios create pan-African food products company
GBfoods Africa Holdco B.V., a joint venture between GBfoods and Helios Investment Partners, has acquired assets from different companies operating in Africa, including leading brands such as Jumbo (bouillon), Gino and Pomo (tomato paste) and Jago (milk powder and mayonnaise), as well as Bama (mayonnaise) distribution rights for Africa.
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The partnership also includes three production plants in Africa (one in Ghana and two in Nigeria) and incorporates 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,” the joint venture said in a statement issued in Accra.
GBfoods is a leading multinational food company headquartered in Barcelona, Spain, while Helios is a premier Africa-focused private investment firm.
Africa is key market
With this transaction, GBfoods reinforces its leadership position as one of the most influential international groups in the food industry, consolidating its commitment to Africa.
“Up to day, the business in this continent contributed about 20 per cent of the group's turnover,” GBfoods, Helios create
pan-African food products company the statement said.
The Spanish multinational manufactures more than four billion Jumbo cubes per annum for the African market.
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"With this acquisition, we strengthen our position in Africa being present in 30 countries, including key countries such as 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, the Chief Executive Officer of GBfoods, Mr Ignasi Ricou said in the statement.
He added, “From now on, we can proudly say GBfoods has doubled the number of consumers in Africa to become part of the daily food of millions of Africans."
About GBfoods, Helios
GBfoods has had presence in Africa for more than 40 years. The company was established as a concentrated stock cubes manufacturer but has since diversified its operations into other food categories, including taste enrichers, soups, sauces, noodles and ready meals.
Helios Investment Partners, established in 2004, is led and managed by a predominantly African team and based in London, Lagos and Nairobi.