Helios Investment Partners has partnered with GBfoods, a multinational food company headquartered in Barcelona, to create one of Africa’s largest fast moving consumer goods (FMCG) businesses.

Babatunde Soyoye, Co-founder of Helios Investment Partners, said: “We are very excited about partnering with GBfoods to create an African FMCG champion that combines best-in-class global practices and strong, local management.” 

“GBfoods’ innovative pipeline of convenience products adds value to the African consumer by saving both money and cooking time versus the alternative of buying individual ingredient,” he said.

GBfoods Africa Holdco, a 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. 

This will result in a leading pan-African culinary products company with presence in over 30 African countries

Ignasi Ricou, GBfoods CEO, said: “GBfoods has a long history operating in Africa and we are pleased to extend our footprint in partnership with Helios. Africa is a core part of our growth strategy and we look forward to building on this platform of very strong brands with continued investment in local capacity and product innovation.”

GBfoods is focused on offering culinary solutions and has had a presence in Africa for more than 40 years. 

The company was established as a concentrated stock cubes manufacturer and, over the years, has diversified its operations into other food categories including taste enrichers, soups, sauces, noodles and ready meals. 

Helios Investment Partners is an Africa-focused private investment firm established in 2004, led and managed by a predominantly African team and based in London, Lagos and Nairobi. 

Helios’ portfolio companies operate in more than 30 countries in all regions of the continent.