For an undisclosed amount, the acquisition will see Farmcrowdy own majority stake in Best Foods including its assets, team and customer contracts to supply meat across the country.
This will also enable Farmcrowdy to offer a wider livestock production and processing solution to Nigeria’s meat market where according to government estimates, 360,000 tonnes of beef are consumed each year.
With over 16 years in operation, Best Foods is credited as one of the largest meat processors in Lagos with a capacity to process up to 200 bulls daily and is best known for these ventures– Best Food Livestock and Poultry, Best Food Fresh Farms, and Naijapride.
Emmanuel Ijewere, founder of Best Foods, who will be joining Farmcrowdy as a member of the advisory board said, “This deal with Farmcrowdy is a welcome development for us as it provides a major growth opportunity for both businesses. We are excited…