Helios Investment Partners, Africa’s largest investment fund which manages around US$3.5bn in assets, has invested US$40 million in Raya Foods.
Through this investment, Helios will acquire 49% of Raya Foods’ shares, strengthening its strategic partnership with the company and supporting its future growth plans.
Helios seeks to boost Raya Foods’ capabilities in the manufacturing and export of frozen foods and expand its global presence to achieve sustainable growth, further contributing to the national economy.
Ahmed Khalil, CEO of Raya Holding, said: “With the new freeze-drying facility, the company will diversify its products, increase production capacity, and boost exports.”
“This investment strengthens the company’s diversified investment portfolio and supports expansion plans into international markets, positively impacting the Egyptian economy and the company’s performance on the Egyptian Stock Exchange, creating added value for shareholders,”
Ahmed Khalil noted.
The funding is part of Raya Holding’s strategic plan to expand into international markets through its leading portfolio company, Raya Foods, by increasing its production capacity to meet the growing demand for food manufacturing and exports.
Raya Foods currently exports its products to over 50 countries, with a strong focus on European and American markets. It is the second-largest exporter of frozen fruits and vegetables in Egypt and aims to become the largest exporter in the country and the first to manufacture and export freeze-dried vegetables and fruits. The company started as a small company, and today, it has grown to be the exporter with an annual production capacity of 50,000 tons.
“With the establishment of a second factory dedicated to freeze-dried fruits and vegetables, we aim to become Egypt’s largest exporter,”
Raya Foods added.
While Raya Foods’ valuation is currently estimated at US$65 million, the board is expected to mandate local firm FACT with conducting a thorough valuation assessment.
The company’s paid-in capital is EGP 340 million, with its equity valued at EGP 287 million, according to a previous EGX statement by Raya Holding.
Source: Food Business Africa
