B Investments Acquires 53 Percent Stake in Gourmet Group for US$7 Million (MENA)
Posted On: 19 Sep 2018 | Source(s): B Investments | Date: 19 September 2018
B Investments, an Egypt-listed investment platform affiliated with private equity firm BPE Partners, has invested EGP125 million (approximately US$7 million) for a 53 percent stake in Gourmet Group, an Egypt-based food manufacturer and distributor. The transaction includes the acquisition of 40 percent of the company’s existing share capital for EGP65 million (approximately US$3.6 million) and a capital increase of EGP60 million (approximately US$3.3 million). Gourmet Group plans to utilize the new funds to grow its poultry processing plant, as well as increase manufacturing capacity for its ready-to-eat, ready-to-cook and heat-and-eat product lines.