GBfoods and Helios merge for market dominance

GBFOODS, a leading multinational food company headquartered in Barcelona, and Helios Investment Partners, a premier Africa-focused private investment firm, have partnered to create one of Africa’s largest FMCG businesses.

GBfoods Africa Holdco B.V., the joint venture 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.

The agreement also includes three production plants in Africa, one in Ghana and two in Nigeria; an agreement that 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. To date, the business in this continent contributed about 20% of the Group’s turnover.