Finance

Egypt: Fund manager Ezdehar Management gets stake in food delivery platform Rich Food Industries

Tuesday, 14 January 2020 11:10
Egypt: Fund manager Ezdehar Management gets stake in food delivery platform Rich Food Industries

(Ecofin Agency) - The Fund manager Ezdehar Management has acquired, through its first investment fund Ezdehar Egypt Mid-Cap Fund, an undisclosed majority stake in the capital of Rich Food Industries, a food delivery company.

The money collected by Rich Food Industries will be used to increase its production capacity and broaden outlet network across the country. “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,” Amr El Tazy, founder of Rich Food, commented.

With commitments of up to $84 million, secured with international financial institutions in 2017, Ezdehar Egypt Mid-Cap Fund invests in medium-sized companies operating in high value-added sectors such as consumer goods, health, and education. In 2018, the fund invested in Dsquares LCC and in the Global Leasing Company. A year before, investment went to Nile Aluminium and Metals (AluNile), which specializes in the design of architectural facades.

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