Joint Venture: GBfoods and Helios Investment partner to become one of Africa’s largest FMCG

The Joint Venture means that Africa is the key market for GBfoods, where Jumbo has been present for more than 40 years. The company will operate in 30 African countries, including Nigeria and Ghana.

Two Fast Moving Consumer Groups (FMCG) have formed a formed a Joint Venture to create a Pan-African Food Products Company

The two companies are GBfoods, a leading multinational food Group headquartered in Barcelona, and Helios Investment Partners, a premier Africa-focused private investment firm.

GBfoods are producers of Gino, Bama, Jago, Pomo, Jumbo, Star, Grand’Italia, Gallina Banca products on the Ghanaian market as well as other markets worldwide.

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With this transaction, Africa becomes the key market for GBfoods, where Jumbo has been present for more than 40 years.

The company will operate in 30 African countries, including Nigeria and Ghana.  

This partnership creates one of Africa's largest FMCG groups 

The joint venture will be known as GBfoods Africa Holdco B.V.

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GBfoods Africa Holdco B.V. 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.

The agreement 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.

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.

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Chief Executive Officer of GBfoods Ignasi Ricou said the acquisition gives them more potential to grow in Africa.

"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 Joint Venture means that Africa is the key market for GBfoods, where Jumbo has been present for more than 40 years. The company will operate in 30 African countries, including Nigeria and Ghana. Read Full Story