GBfoods to acquire the remaining 49% stake in GBfoods Africa from Helios Investment Partners.

GBfoods, which manufactures meal solutions such as, soups, ready dishes, and fish, agreed to acquire the remaining 49% stake in GBfoods Africa, its joint venture with Helios Investment Partners, an Africa-focused private investment firm. Financial terms were not disclosed. "Helios is proud to have been selected as GBfoods’ partner of choice in Africa, and together to have transformed GBFA into a large, fast-growing and locally sustainable African consumer business. Our successful investment underscores the strength of our strategy in the consumer non-discretionary sector, focussing on resilient businesses that offer low-cost products with mass market appeal, and our capability to create value for all stakeholders through establishing high ESG standards and achieving growth with positive impact. We look forward to following the Company’s continued success," Nimit Shah, Helios Partner.