ABarcelona based food company, GBfoods has partnered a private investment firm, Helios Investment to create one of Africa’s largest Fast Moving Consumer Goods businesses.
With the Joint Venture, GBfoods reinforces its position as one of the influential international groups in the food industry, consolidating its commitment to Africa. Up to day, the business in Africa has contributed about 20 per cent of the Group’s turnover. The development is expected allow GBfoods to expand its presence in Africa, becoming a reference in the African households.
Chief Executive Officer, GBfoods, Mr. Ignasi Ricou, said, “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.”
The JV owned by GBfoods and Helios, has acquired assets from different African companies 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, in one 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.
