Helios in $40m food deal
Egypt’s Raya Foods has secured an investment of approximately $40m from Helios Investment Partners.
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Egypt’s Raya Foods has secured an investment of approximately $40m from Helios Investment Partners.
Through this investment, Helios will acquire 49% of Raya Foods’ shares. The investment aims to boost Raya Foods’ capabilities in the manufacturing and export of frozen foods and expand its global presence.
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.
Ahmed Khalil, CEO of Raya Holding, said: "We are pleased to announce this strategic investment, which reflects investors' confidence in Raya Holding’s vision and future plans to achieve leadership across various sectors. It also aligns with the group’s plans to increase foreign currency revenues, as Raya Foods is one of Raya Holding’s fastest-growing portfolio companies. Raya Foods has led the market in exporting frozen fruits and vegetables to over 50 countries. With the new freeze-drying facility, the company will diversify its products, increase production capacity, and boost exports."
He added: "This investment strengthens our diversified investment portfolio and supports our expansion plans into international markets, positively impacting the Egyptian economy and our company’s performance on the Egyptian Stock Exchange, creating added value for our shareholders."
Omar Abdelaziz, CEO of Raya Foods, said: "Securing $40 million in funding with a partner like Helios underscores the strong performance and rapid growth that Raya Foods has achieved over the past five years. This funding reflects Helios' confidence in our potential to achieve similar growth over the next five years. This investment marks a significant turning point in the company’s journey. We started as a small company, and today, we are the second-largest exporter of frozen fruits and vegetables in Egypt, with an annual production capacity of 50,000 tonnes. With the establishment of our second factory dedicated to freeze-dried fruits and vegetables, we aim to become Egypt's largest exporter.”
Raed Barkatis, head of consumer and healthcare at Helios Investment Partners, commented: "We are excited to support the growth of Raya Foods, and we see this partnership as an opportunity for mutual growth. Raya Foods is a leader in the frozen food sector in Egypt, and we are confident that this investment will enhance its production capacity and open new opportunities in global markets."
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