Respect for your privacy is our priority

The cookie is a small information file stored in your browser each time you visit our web page.

Cookies are useful because they record the history of your activity on our web page. Thus, when you return to the page, it identifies you and configures its content based on your browsing habits, your identity and your preferences.

You may accept cookies or refuse, block or delete cookies, at your convenience. To do this, you can choose from one of the options available on this window or even and if necessary, by configuring your browser.

If you refuse cookies, we can not guarantee the proper functioning of the various features of our web page.

For more information, please read the COOKIES INFORMATION section on our web page.


News

Nigeria: the largest ever production and processing project

09/11/2021 - François-Xavier Branthôme
GBFoods invests N20bn to address tomato scarcity

Spanish manufacturers of Gino Tomato paste, GBFoods - the company born in 2007 from the merger between Gallina Blanca and Star, announced at the end of October 2021 they have invested N20 billion (USD 48.6 million, Euro 42 million) into the agricultural production and industrial processing of fresh tomatoes. This, it said, would ease the challenges and complications posed by the rising prices of food items.
 According to the company, it explored the gains inherent in backward integration through a strategic partnership with the Central Bank of Nigeria (CBN) and the Kebbi State government to build one of the largest tomato processing factories in Nigeria and the largest single tomato farm in Africa. Its factory, GBFoods said, still maintains the record as the only fully backward integrated plant in the entire Sub-Saharan African region.

This, it added, is in addition to the engagement of thousands of smallholder farmers as out-growers, including training on best agricultural practices, provision of tomato seedlings, provision of farming equipment as well as contribution to the welfare of the host community.

These initiatives, in no small way, bolster the overall effort not only in meeting the food security gaps but also poverty reduction; and can be leveraged on a wider scale by other stakeholders to resolve issues in the food supply ecosystem,” it explained.

It should be also mentioned that Helios Investment Partners recently sold its investment in GB Foods Africa after almost five years of maintaining its shareholding in the enterprise.

The announcement was made in a press release published on the company’s official website on September 21, 2021. According to the press release, Helios Investment Partners completed the sale of its 49% stake in GB Foods Africa to its partner and co-shareholder, GB Foods SA.

Some additional information
For further information about GBFoods

https://www.thegbfoods.com/about-us/history


Sources: leadership.ng, nairametrics.com

Further details in attached documents:
Dossier prensa GB v4 compressed
Related companies

The GB Foods

Tomato processor See details
Back

________________________________________

Editor : TOMATO NEWS SAS -  MAISON DE L'AGRICULTURE - TSA 48449 - 84912 AVIGNON Cedex 9 - FRANCE
contact@tomatonews.com
www.tomatonews.com

 

 

Supporting partners
Featured company
NAVATTA GROUP FOOD PROCESSING S.R.L.
Most popular news
Featured event
14th World Processing Tomato Congress & 16th ISHS Symposium on the Processing Tomato
Our supporting partners