MENA- Invictus Investment Company, a UAE-based agricultural commodity trader, has announced plans to invest US$272 million to expand into the MENA region via acquisitions and joint ventures with regional entities.
According to a statement issued by the company, the expansion will include diversifying into logistics and food processing.
Invictus trades grains, oilseeds, edible oils, animal feed, pulses, spray-dried gum Arabic, and meat, among other products, adhering to the highest global quality standards ensured by the certified labs it runs in different locations globally.
Its operations are supported by a thriving logistics and supply chain management business, handling and managing a network of over 150 material suppliers and trade consistently in more than 13 products, spanning 20 countries.
The company has its main procurement hub in the UAE and affiliate/associate offices in Sudan, Ethiopia, Chad, Egypt, Cameroon, China, and the USA, from where it manages the potent global supply chains.
Moreover, Invictus boasts over 40 processing facilities contracted to meet its requirements. These facilities are managed by a highly qualified team using its enterprise resources planning (ERP) system.
In these facilities, cleaning, sorting, sifting, crushing, and ginning are all part of our processes when it comes to preparing its commodities for supply across the globe.
According to the company, its 2023 focus will be on investing in this aspect of its business; enhancing its food processing capabilities in Africa to strengthen its trading business and build access to consumers in the region.
CEO Amir Daoud Abdellatif said planned partnerships and acquisitions would include finished products, flour mixes, pasta, noodles, poultry, and animal feed among others.
“In an increased globalized world, there is an immense need to continue to connect, and deliver food to ensure the safety and security of a nation and its people,” he said.
Invictus has exported one million metric tonnes of agro-commodity exports to Egypt this year, and investment in its African business could see it export even more soon.
Additionally, Invictus recently released its Q1 financial results revealing impressive growth in Africa with revenues growing 59 percent to US$470 million from US$290 million in the first quarter of 2022.
“To continue to build on the success of our financial performance in 2022, we have developed a comprehensive plan to continue diversifying in 2023. Our team is committed to identifying emerging opportunities and leveraging our expertise to capitalize on them into developing as a fully integrated agro-food enterprise,” CEO Amir Daoud Abdellatif commented during the release of the Q1 results in May.