Helios Investment Partners has agreed to acquire up to 49 per cent of Mozambique’s largest flour milling company, Merec Industries, in a deal aimed at expanding food production and distribution across Southern Africa.
The investment firm will acquire the stake from Invictus Investment through Helios Fund V, with the transaction expected to be completed by the end of 2026, subject to regulatory approvals and other closing conditions.
Invictus will retain its majority stake in the business following the transaction.
The proposed deal is expected to help Merec expand beyond its existing operations into new food categories and markets within the Southern African Development Community.
Founded in 1998, Merec processes wheat and corn into flour, pasta, biscuits and animal feed. It operates mills, production facilities and silos in Beira, Maputo and Nacala, Mozambique’s three principal port regions.
The company also owns a grain terminal at the Port of Maputo and runs a nationwide distribution network serving wholesalers, retailers, bakeries and animal feed producers.
Helios co-founder and managing partner, Tope Lawani, said Merec’s market position, distribution network and established brands offered opportunities for further growth.
He said the firm would bring its experience in financing and scaling African businesses to support the company’s expansion.
Invictus Investment chief executive, Amir Daoud Abdellatif, said the partnership would accelerate Merec’s development into a regional food platform.
He said the company had strengthened its position since Invictus acquired its holding company, Stratton Africa Holdings Limited, in January 2025.
The investors also plan to strengthen Merec’s corporate governance, leadership and environmental, social and governance practices, while supporting local employment and food security.
Helios manages funds worth more than $3bn and invests in businesses across Africa. Established in 2004, it has offices in London, Paris, Lagos and Nairobi.
Invictus, listed on the Abu Dhabi Securities Exchange, operates in grain trading, commodity exports, logistics and value addition, with a portfolio spanning more than 31 product categories and operations across 66 countries.
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