KENYA – Mauritius based holding company, Africa Protein Holdings Limited, owners of Quality Meat Packers Ltd and Anirita Poultry Farm Plc, have received backing from Africa-focused investment company, Tana Africa Capital.
The leading Pan-African private equity firm has undertaken the equity investment through its second fund Tana Africa Capital II, acquiring a minority stake in the company for an undisclosed amount.
The Velji family remain the majority owner of the business, with the support aimed to transform its Kenya based business, QMP Group, into a leading African meat processing company with a significant footprint in its export markets, operating with world-class standards, and possessing deep competitive advantages.
Founded in the 1980s as a retail butchery in Nairobi, the QMP Group currently engages in procuring, farming, hatching, breeding, processing, packaging, distributing, marketing, and retailing animal-sourced meats.
The product offering includes a basket of proteins including beef, goat, chicken, lamb, fish and related value-added snacks.
“We are excited to have found a long-term partner who share our values and is focused on supporting us by investing in our strategy and people, enabling us to continue to build pan-African leadership in the meat industry.”Diamond Velji – Founder and CEO of QMP Group.
Quality Meat Packers operates a modern slaughterhouse and meat processing plant, and Anirita Poultry Farm is an integrated poultry producer and animal feed producer.
The group is halal and export certified and supplies Eastern Africa and several international markets including the UAE, Saudi Arabia, Oman and other destinations in Africa and the Middle East.
“We are delighted to partner with Tana for the next phase of growth as we work to achieve the full potential of the business.
“We are excited to have found a long-term partner who share our values and is focused on supporting us by investing in our strategy and people, enabling us to continue to build pan-African leadership in the meat industry,” said Diamond Velji, Founder and CEO of QMP Group.
Tana as an active and long-term investor forms a partnership with the highly experienced and reputable Velji family who will continue to run the business, backed by seasoned professionals, in a business with exceptional growth potential, and will work to realise the company’s long-term vision of becoming one of Africa’s leading players in its industry.
Mark Tindall, Managing Director at Tana, commented, “We are excited to partner with the Velji family and their team to build an exceptional meat processing business; one which makes high quality and affordable protein accessible to many people.
“This business has great founding partners, a strong management team and exciting growth prospects as there is a large and consistent increase in demand for meat proteins in Africa and key export markets. QMP has all the hallmarks of a compelling investment for Tana.”
During the transaction, QMP Group was advised by Anjarwalla & Khanna, whereas Ipsos, Deloitte and Dentons accompanied Tana.
“This transaction is testament to the hard work by QMP’s founding family enabling the business to grow sustainably supported by robust growth in enabling end-sectors such as modern trade, quick service restaurants, healthcare, and hospitality.
“We are proud to support a visionary business alongside top-notch partners who are motivated, ambitious and partnership-oriented,” Ben Munda, Principal at Tana, said.
The investment follows Tana Africa Capital II recently buying into Kensington Distillers & Vintners, a London based alcoholic beverage manufacturing and distribution business with operations in South Africa, Kenya and Nigeria.
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