Spain: KPS Capital Partners Acquires EMEA Food Packaging Business from Crown Holdings Group

Published on Sep 16, 2021

Cuatrecasas has advised Agrolimen and GBfoods on acquiring the remaining 49% of GBfoods Africa’s share capital and on winding up the joint venture with Helios Investment Partners.

GBfoods, owner of Gallina Blanca and Avecrem, has taken control of all its business in Africa after reaching an agreement with investment fund Helios Investment Partners. To continue its growth in key markets such as Nigeria, Ghana, Algeria and Senegal, GBfoods has acquired Helios’s part of the joint venture they created in 2017 to operate in a continent where they have been working for over 30 years.

With this transaction, the company becomes the sole shareholder of the African subsidiary—which has seven factories and sells its products in over 30 countries—thus showing its long-term commitment to the continent.