– Raya Holding is investing approximately $40 million in its portfolio company, Raya Foods, in partnership with Helios Investment Partners, Africa’s largest investment fund.

– Helios will acquire a 49% stake in Raya Foods, aiming to strengthen their strategic partnership and support the company’s growth in frozen food manufacturing and exports.

– The investment will enhance Raya Foods’ production capacity to meet global demand, positioning it to become Egypt’s top exporter of frozen and freeze-dried fruits and vegetables.

Raya Holding for Financial Investments has announced a $40 million investment in its portfolio company, Raya Foods, led by Helios Investment Partners, Africa’s largest investment fund managing $3.5 billion in assets. The exact investment amount will be finalized through closing procedures.

This strategic investment will see Helios acquire 49% of Raya Foods’ shares, strengthening their partnership and supporting the company’s future growth objectives.

The funds are aimed at enhancing Raya Foods’ manufacturing and export capabilities in the frozen food sector, boosting the company’s global expansion and contributing to the national economy.

The funding aligns with Raya Holding’s strategy to grow its international presence through its portfolio company, by expanding production to meet rising global demand for food manufacturing and exports. Committed to following global food market trends, including frozen vegetables and fruits, Raya Foods already exports to over 50 countries, focusing on European and American markets.

Commenting on the deal, Ahmed Khalil, CEO of Raya Holding, said: “We are pleased to announce this strategic investment, which reflects investors’ confidence in Raya Holding’s vision and future plans to achieve leadership across various sectors. It also aligns with the group’s plans to increase foreign currency revenues, as Raya Foods is one of Raya Holding’s fastest-growing portfolio comapnies.”

He concluded: “This investment strengthens our diversified investment portfolio and supports our expansion plans into international markets, positively impacting the Egyptian economy and our company’s performance on the Egyptian Stock Exchange, creating added value for our shareholders.”

Omar Abdelaziz, CEO of Raya Foods, added: “Securing $40 million 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’ confidence in our potential to achieve similar growth over the next five years…With the establishment of our second factory dedicated to freeze-dried fruits and vegetables, we aim to become Egypt’s largest exporter.”

Abdelaziz added: “This investment will accelerate our growth and expand our global operations, significantly enhancing our competitiveness. We are working to diversify our product portfolio to include freeze-dried fruits and vegetables, in line with our expansion strategy to meet the growing global demand for healthy and sustainable products.”

“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, ” he noted.