Kibo Capital Partners has acquired an undisclosed stake in Tropigalia, a Mozambican food and non-food FMCG items distributor. 

The financial details of the transaction have not been disclosed.

The investment marks Kibo’s fifth deal from its second fund which closed in 2016 with $63m in commitments.

The capital will go towards supporting growth as the company expands its product offering by capturing additional exclusive distribution agreements with leading global brands, and launching new product lines under its own Gourmet brand. 

Tropigalia has operations in Mozambique's three main cities - Maputo, Beira and Nampula, and aims to build its market share in the country by targeting the formal and informal market segments.

Tropigalia was founded in 2004 by entrepreneur Adolfo Correia and distributes food and non-food FMCG items, managing over 3,000 SKU including brands such as Colgate-Palmolive, Pioneer Foods, Dr. Oetker, Milaneza and Bavaria. The company has a workforce of 374 employees.

In addition to capital, Kibo will work with Tropigalia to enhance governance, strengthen operations and executive its growth strategy.

Thierry Hugnin, Managing Partner and Kevin Rodrigues, Principal at Kibo, led the deal.

Transaction advisory was undertaken by Sofia Rocha.

Miranda provided legal advisory services to Kibo, while KPMG acted as the financial advisor to the investor.

Environmental, social and governance (ESG) diligence was conducted by Environmental Resources Management (ERM) and CrossBoundary provided market assessment advisory services to Kibo.