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Helios Investment sells 49% stake in GB Foods Africa after 4.5 years

Helios Investment Partners has sold its 49 percent stake in GB Foods Africa to its partner and co-shareholder, GB Foods SA, after four and a half years of investing in the multinational food company.

The announcement was made in a press release published on the company’s official website on September 21, 2021.

“The exit demonstrates the strong buyer appetite for the kinds of market-leading companies we develop over the course of our ownership,” Helios said in the press release.

During its 4.5 years of ownership of GB foods Africa, Helios achieved strong financial, social and environmental performance which included reducing carbon emissions, over 1000 new local farming jobs, 80% growth of employment of women into new harvesting roles and 10 times increase in prior crop yields.

Although specific numbers were not provided, Helios said its other achievements during the period included annual profit growth driven by revenue growth and margin expansion as well as reduction in finished product imports from China and the U.S by about 550 containers per year.

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Nimit Shah, a Partner at Helios, stated that the company is proud to have been selected as GB Foods’ partner of choice in Africa, and to have had the opportunity to contribute to the transformation of the FMCG company into a large, fast-growing and locally sustainable African consumer business.

“Our successful investment underscores the strength of our strategy in the consumer non-discretionary sector, focusing on resilient businesses that offer low-cost products with mass market appeal, and our capability to create value for all stakeholders through establishing high ESG standards and achieving growth with positive impact,” Shah said.

GB Foods Africa was created following the partnership established between Helios Investment Partners and GB Foods SA in 2017 and metamorphosed into one of the largest FMCGs in Africa with presence in over 30 African countries.

The FMCG acquired 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.

Headquartered in Barcelona, GBfoods has had a presence in Africa for more than 40 years, offering culinary solutions.

Its African operations contributed about 20% of the group’s turnover in 2017.

Helios Investment Partners is one of the largest private equity funds in Africa. The company operates a family of funds, which has invested over $3 billion in African businesses.

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