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Abu Dhabi-listed Invictus Investment Company will invest AED 1 billion ($272 million) to expand into MENA region via acquisitions and joint ventures with regional entities.
The company said it would view “inorganic growth avenues” in agro-food trading, with potential markets including Morocco, Algeria, Kenya, Tanzania and Mozambique.
The expansion will include diversifying into logistics and food processing, Invictus said in a statement.
This year it will focus on investing in food processing in Africa to strengthen its trading business and build access to consumers in the region.
CEO Amir Daoud Abdellatif said planned partnerships and acquisitions will include finished products, flour mixes, pasta, noodles, poultry and animal feed among others.
“In an increased globalised world, there is an immense need to continue to connect, and deliver food to ensure safety and security of a nation and its people,” he said.
Invictus has exported one million metric tonnes of agro-commodity exports to Egypt so far this year.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
