Raya Holding for Financial Investments has announced securing an investment of approximately $40m from Helios Investment Partners, Africa’s largest investment fund which manages around $37.5bn in assets, into Raya Foods. Through this investment, Helios will acquire 49% of Raya Foods’ shares, strengthening its strategic partnership with the company and supporting its future growth plans.
This investment aims to boost Raya Foods’ capabilities in the manufacturing and export of frozen foods and expand its global presence to achieve sustainable growth, further contributing to the national economy.
The funding is part of Raya Holding’s strategic plan to expand into international markets through its leading portfolio company, Raya Foods, by increasing its production capacity to meet the growing demand for food manufacturing and exports.
Raya Foods currently exports its products to over 50 countries, with a strong focus on European and American markets. It is the second-largest exporter of frozen fruits and vegetables in Egypt and aims to become the largest exporter in the country and the first to manufacture and export freeze-dried vegetables and fruits.
Ahmed Khalil, CEO of Raya Holding, said: “With the new freeze-drying facility, the company will diversify its products, increase production capacity, and boost exports.”
He added that this investment strengthens the company’s diversified investment portfolio and supports expansion plans into international markets, positively impacting the Egyptian economy and the company’s performance on the Egyptian Stock Exchange, creating added value for shareholders.”
Omar Abdelaziz, CEO of Raya Foods, stated: “Securing $40m in funding with a partner like Helios underscores the strong performance and rapid growth that Raya Foods has achieved over the past five years. This funding reflects Helios’s confidence in our potential to achieve similar growth over the next five years.
Abdelaziz said: “We started as a small company, and today, we are the second-largest exporter of frozen fruits and vegetables in Egypt, with an annual production capacity of 50,000 tons. With the establishment of our second factory dedicated to freeze-dried fruits and vegetables, we aim to become Egypt’s largest exporter.”
He concluded: “In the first half of 2024, Raya Foods became Egypt’s largest exporter of frozen strawberries, and we aim to build on this achievement to solidify our position as a leading provider of diverse food solutions for global markets.”
Raed Barkatis, Head of Consumer and Healthcare at Helios Investment Partners, commented: “We strongly believe in the food sector, especially with the increasing global trend towards healthy foods. We are confident that this partnership will contribute to advancing agricultural development and enhancing food security.”
Raya Foods seeks to solidify its position as a global leader in the healthy food and agricultural sectors by providing innovative food solutions that meet diverse consumer needs and building strong partnerships with customers. The company also focuses on supporting local farmers, enhancing the economy by providing foreign currency, and expanding its presence in global markets.