Abu Dhabi - Mubasher: Invictus Investment Company inked an agreement to acquire a leading flour milling company in Southern Africa, according to a press release.
The transaction is still subject to necessary regulatory approvals and closing mechanisms.
Amir Daoud Abdellatif, CEO of Invictus Investment, said: “The acquisition contributes to our long-term strategy to expand our agro-food business in high-potential African markets, develop new strategic partnerships, and build on our operational capabilities in the midstream and downstream segments.”
“It also brings us a step closer to our goal of becoming a fully integrated agro-food enterprise in the Middle East and Africa,” Abdellatif mentioned.
The acquisition marks Invictus Investment’s second transaction in Africa in 2024. It follows the purchase of a 60% stake in Graderco and its subsidiaries from Zalar Holding.
Meanwhile, the ADX-listed company is focused on exploring further acquisition opportunities, developing new joint ventures in strategic markets, and boosting its investments across key African markets.
