Phatisa Food Fund 2 gets additional backing from development finance institutions closing at US$143m

AFRICA – Phatisa, a sector-specific African private equity fund manager, has reached a US$143 million final close for its Phatisa Food Fund 2 (PFF 2), following an US$82 million joint commitment from a group of development finance institutions (DFIs). The DFIs include CDC, Norfund, Finnfund, FinDev Canada, and BIO who committed to the Fund’s final close with US$30 million, US$20 million, US$15 million, US$10 million and US$7 million, respectively. “We are pleased to welcome this multinational group of investors to Phatisa Food Fund 2, a fund focused on increasing investment…

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Phatisa and partners acquire Malawian agricultural solutions provider

MALAWI – Phatisa Food Fund 2 (PFF 2) and a group of co-investors, Norfund, Mbuyu Capital and DEG have acquired Southern African integrated agricultural solutions provider, Farming and Engineering Services Limited (FES). FES, established in Malawi in 1967, caters for a broad customer base of commercial and emerging farmers. The investment will support FES’s long term growth strategy, assisting the company to expand its successful business model to neighbouring countries. Mike Aldworth, Group Managing Director of FES, commenting on the acquisition stated, “This transaction is a vote of confidence in…

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Phatisa acquires Rolfes Group to unlock new growth opportunities

SOUTH AFRICA – Phatisa, through its Food Fund 2, together with Sabvest, Masimong Chemicals and Rolfes management, have acquired the entire issued share capital of Rolfes Group, in public-to-private transaction to unlock new growth opportunities. Following the acquisition, Rolfes has been delisted from the Johannesburg Stock Exchange. Established in 1938, Rolfes is a supplier of agricultural, food, industrial and water chemical management solutions and services for both the South African and international markets. The company’s divisions include: Agricultural, food ingredients, industrial chemicals and water. With a projected global population increase…

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PE firm Phatisa receives award for impactful investments in the food industry

AFRICA – Phatisa, a sector-focused African private equity firm has won the prestigious Chairman’s Award at the Southern African Venture Capital and Private Equity Association (SAVCA) 2019 Industry Awards for its investment in agricultural inputs business, Meridian. According to a press-release, the Award received on 7 November 2019, recognises investments that have achieved exceptional financial and social returns. Phatisa, through its first food fund (African Agriculture Fund), invested in Meridian in 2014 and exited in 2019. During the investment period, Meridian’s annual volume of fertiliser sold grew from 190,500 to…

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