Ezdehar Egypt Mid-Cap Fund (“Ezdehar”) has successfully completed the acquisition of a strategic stake in Rich Food Industries S.A.E. (“Rich Food”), a leading convenience food producer focused on the chilled and frozen animal protein segment in Egypt, including beef, poultry, and turkey. With its innovative and high-quality product range, Rich Food has rapidly grown its market share in the animal protein segment. Through the partnership with Ezdehar, Rich Food plans to increase its production capacity and widen its reach across different distribution channels.
Commenting on the transaction, Amr El Tazy, founder of Rich Food, explained “our journey to this stage has been built on a customer-centric and innovative approach to a segment that had not seen significant change for a long time. We believe this investment brings together Rich Food’s dynamic management team and Ezdehar’s financial and operational acumen to support the Company’s transformation into a market leader in the processed animal protein space”.
Emad Barsoum, Managing Director at Ezdehar Management commented saying: “We have been impressed by Rich Food’s strong growth which has been built on management’s unique attention to customer needs as well as following best practice in food production and safety to continue developing the firm. We look forward to partnering with Rich Food’s management in scaling the Company’s operations and institutionalizing its capabilities.”
Ahmed Farrag, the incoming CEO of Rich Food, added “Rich Food is a great example of a modern customer-centric consumer goods business and I look forward to continuing the legacy of innovation and focus on quality as we grow the business to become a premier processed animal protein producer.”
Rich Food was advised by Moonstone Capital Partners, Rosetta Financial Advisory, and Adsero – Ragy Soliman & Associates law firm. Ezdehar was advised by Al Tamimi & Company and Van Campen Liem.