GB Foods Africa is a Nigeria-based joint venture GB Foods set up in 2017 with the British private equity fund Helios Investment Partners to grow in Africa with the acquisition of the Nigeria-based Watanmal.
With the transaction, GB Foods reaches a 100% stake in the joint venture. GB Foods operates seven plants in Nigeria, Algeria, Senegal, Mali and Ghana, where it produces and markets local brands including Jumbo (broth), Gino and Pomo (tomato paste) or Jago and Bama (mayonnaise).
AZ Capital served as financial GB Foods on the acquisition of the remaining 49% stake in GB Foods Africa.
AZ Capital
Advised in the sale of
GB Foods Africa (49%)
to