Cairo – Mubasher: Raya Holding for Financial Investment has invested around $40 million in its portfolio company, Raya Foods, according to a press release.
The transaction was led by Helios Investment Partners, Africa's largest investment fund, managing around $3.50 billion in assets.
Through this investment, Helios will acquire 49% of Raya Foods’ shares, anchoring its strategic partnership with the company and supporting its future growth plans.
In the same vein, Raya Foods seeks to solidify its position as a global leader in the healthy food and agricultural sectors by providing advanced food solutions that meet diverse consumer needs and building strong partnerships with customers.
The company also focuses on backing local farmers and reinforcing the economy by providing foreign currency and expanding its presence in more global markets.
Ahmed Khalil, CEO of Raya Holding, said: "We are pleased to announce this strategic investment, which reflects investors' confidence in Raya Holding’s vision and future plans to achieve leadership across various sectors.”
“It also aligns with the group’s plans to increase foreign currency revenues, as Raya Foods is one of Raya Holding’s fastest-growing portfolio companies,” Khalil added.
The CEO highlighted: “Raya Foods has led the market in exporting frozen fruits and vegetables to over 50 countries. With the new freeze-drying facility, the company will diversify its products, increase production capacity, and boost exports."
Omar Abdelaziz, CEO of Raya Foods, commented: "This investment will accelerate our growth and expand our global operations, significantly enhancing our competitiveness. We are working to diversify our product portfolio to include freeze-dried fruits and vegetables, in line with our expansion strategy to meet the growing global demand for healthy and sustainable products."
Abdelaziz noted: "In the first half of 2024, Raya Foods became Egypt’s largest exporter of frozen strawberries, and we aim to build on this achievement to solidify our position as a leading provider of diverse food solutions for global markets."
In H1-24, the EGX-listed firm recorded year-on-year (YoY) higher consolidated net profits at EGP 762.13 million.
