Agriculture Transaction Brief: Helios invests $40m in Egypt’s Raya Foods

Transaction Summary

Raya Foods, the frozen fruits and vegetables subsidiary of Raya Holding Company for Financial Investments S.A.E (listed on the Egyptian Exchange), has secured a $40 million investment from Helios Investment Partners LLP (Helios), Africa’s largest private equity firm in exchange for a 49% equity stake. This deal, anticipated to close in Q1 2025, includes a $14 million capital increase through new share issuance, a $9 million mezzanine loan with potential for later equity conversion, and a secondary share purchase from existing shareholders. Of the total, $20 million will be allocated toward Raya’s international expansion and the construction of a new 25,000 sqm factory focused on freeze-dried fruits and vegetables, a moisture-removal process ideal for preserving perishable foods.

Terms

  • Fund Managers: Helios Investment Partners LLP
  • Target Company: Raya Foods
  • Investment Amount: $40m
  • Fund: Helios Investors III L.P. Fund
  • Transaction Type: 49% Equity Investment
  • Post-money Valuation: $65m

Transaction Rationale

Raya aims to grow the company

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