Dubai: Invictus Investment Company Plc, a leading agro-food enterprise in the Middle East and Africa, has significantly expanded its footprint with the acquisition of Merec Industries, Mozambique’s largest flour milling company. This strategic move, achieved through the purchase of Merec’s holding company, Stratton Africa Holdings Limited, from Amethis Fund II and Merec Financial, is expected to propel Invictus towards its ambitious goal of becoming a dominant player in the African agro-food sector.
The acquisition of Merec, with its extensive network of mills, production facilities, and silos across Mozambique, will inject significant scale and synergies into Invictus’ operations. This is anticipated to boost consolidated revenues by over AED 1 billion (US$ 272 million) annually, while driving a substantial increase in EBITDA, projected to more than double by 2025.
“This deal aligns perfectly with our long-term vision of becoming a fully integrated agro-food enterprise across the Middle East and Africa,” stated Amir Daoud Abdellatif, CEO of Invictus Investment. “By focusing on key staples and leveraging strategic partnerships, we aim to achieve AED 25 billion (USD 6.8 billion) in revenue by 2028.”
Merec Industries boasts an impressive production capacity, processing over 800,000 metric tons of wheat and corn flour annually. Its portfolio extends beyond flour milling, encompassing the production of pasta, biscuits, and animal feed, with a total processing capacity exceeding 180,000 metric tons. The company’s strategic assets, including a grain terminal at the port of Maputo, provide a strong foundation for continued growth and market dominance.
“We are confident that this acquisition will not only drive significant financial growth for Invictus but also contribute positively to Mozambique’s economy,” added Mr. Abdellatif. “By enhancing food security and supporting job creation, we aim to make a lasting impact on the country.”
This acquisition marks a significant milestone for Invictus, following its previous acquisition of a 60% stake in Graderco, Morocco’s leading grains trading company. The company remains committed to exploring further investment opportunities across the African continent, leveraging strategic partnerships and acquisitions to solidify its position as a leading player in the region’s burgeoning agro-food sector.
