Deal 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
- Deal Type: 49% Equity Investment
- Post-money Valuation: $65m
Deal Rationale
Raya aims to grow the company
