Helios Investment Partners has announced the sale of its investment in GB Foods Africa after almost 5 years of maintaining its shareholding in the enterprise.

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

According to the press release, Helios Investment Partners completed the sale of its 49% stake in GB Foods Africa to its partner and co-shareholder, GB Foods SA.

The statement read that the exit “demonstrated the strong buyer appetite for the kinds of market-leading companies we develop over the course of our ownership.”

Furthermore, the achievements of the enterprise during its 4.5 years of ownership were associated with the execution of Helios’ value creation strategy.

These achievements included; 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.

Other achievements during the period are annual profit growth in the mid-teens, driven by revenue growth and margin expansion and reduction in finished product import from China and the U.S by c.550 containers per year.

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.

He also commented saying, “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. We look forward to following the Company’s continued success.”

What you should know

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.