Condiment maker GBfoods attains full ownership of Africa’s operations

AFRICA – Global culinary products manufacturer GBfoods has undertaken a share buy-back at its African unit GBfoods, from private equity investment firm Helios Investment Partners. Established in 2017, GBfoods Africa was a joint venture created by Helios and GBfoods through the combination of GBfoods’ existing bouillon cubes business in Africa and the acquisition of brands Gino, Pomo, Jago, and Bama. Under the new deal, Helios has sold its 49% stake in the company to its partner and co-shareholder, after successful execution of its value creation strategy which has resulted in…

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GBfoods commissions US$14.3m mayonnaise processing factory in Nigeria

NIGERIA – Global culinary products manufacturer GBfoods, has inaugurated its N5.5 billion (US$14.3m) state of the art production factory for its leading mayonnaise brand, Bama Mayonnaise in Ogun State, Nigeria. The Bama mayonnaise recipe was developed in the United States of America over 80 years ago and has continued to expand across the globe. The factory, according to Premium Times reports, will be the largest in Sub Saharan Africa and will support the manufacturing of the Original recipe Bama mayonnaise for Nigeria and the rest of Africa. This investment is…

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Spanish food manufacturer GBfoods commissions US$51.9M tomato processing factory in Nigeria

NIGERIA – Spanish culinary products manufacturer GBfoods, having operations in Nigeria has inaugurated a N20 billion (US$51.9m) Tomato processing factory in Kebbi state, aimed to help the country achieve self-sufficiency in production of tomatoes and its related products. Through its wide product range which include taste enhances, ready meals, soups, infusions, among other, GBfoods has earned itself a wide market share in Nigeria thanks to some of its notable brands like Gino tomato mix, Bama mayonnaise and Jango dairy products. The N20 billion (US$51.9m) factory was established in partnership with…

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