Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

Farmcrowdy acquires Best Foods to explore meat market 

Fakoyejo Olalekan by Fakoyejo Olalekan
February 6, 2020
in Business News, Company News, Corporate deals
Farmcrowdy acquires Best Foods to explore meat market
Share on FacebookShare on TwitterShare on Linkedin

Farmcrowdy is officially exploring the business of selling meat after it acquired a majority stake in Best Foods, an agro company established 16 years ago. The Nigerian agrotech firm has previously been crowdfunding farmers, but with the latest investment, it will expand its footprint in Nigeria’s Agric business.

Farmcrowdy has been reviewing its business operation, trying to diversify its portfolio. According to TechCabal, the company has been operating in the meat market silently since last year but this acquisition makes its ambition public and shows it has a long-term plan for the meat market.

Farmcrowdy acquires Best Foods, to start selling meat 

RelatedPosts

To improve productivity in the agriculture sector, we need to scale up technology – Kenneth Obiajulu, Agricorp founder

Farmcrowdy exits Crowdfunding space

What does Farmcrowdy gain? The deal exposes the company to the clientele and existing contracts of Best Foods in the meat market. This will fast track its presence in the market, as the agrotech firm will serve beef and poultry meat to 50 meat markets across the south-west region of Nigeria, including 100 customer endpoints.

Also, with the capacity to process 120 – 200 bulls every day, Best Foods is one of the largest meat processors in Lagos and Nigeria. So, considering the market demand for meat supply in Nigeria, the acquisition is leverage for Farmcrowdy to tap into the two million consumers in Lagos and the 1.2 billion poultry meat demand in Nigeria.

News continues after this ad


Meanwhile, Best Foods’ assets and staff expertise will be readily available for Farmcrowdy when the latter finally launches its Farmcrowdy Meat Hubs in the second quarter of 2020.

(READ MORE: United Nations IDO (UNIDO) presents Farmcrowdy with Disruptive Innovation in Agribusiness International Award)

Speaking on the acquisition, the Founder of Best Foods, Emmanuel Ijewere, said, “This deal with Farmcrowdy is a welcome development for us.

News continues after this ad


“It provides a major growth opportunity for both businesses. We are excited about the many possibilities.” Part of the deal will see Ijewere join Farmcrowdy as a member of the advisory board.

The Managing Director of Farmcrowdy, Kenneth Obiajulu, said, “Best Foods offers an exciting opportunity for Farmcrowdy to strengthen and expand its service offering in livestock production, processing, and supply.”

He added that “With a range of high profile clients, the acquisition supports Farmcrowdy’s strategy to lead the market and meet the requirements necessary to process approximately 45 cattle every day for meat consumption in Lagos.”

Related

Tags: Best FoodsEmmanuel IjewereFarmcrowdyFarmcrowdy Meat HubsKenneth Obiajulu

Comments 1

  1. Glory Ogunli says:
    December 31, 2021 at 5:16 am

    GREEN EAGLES AGRIC BIZ was packaged as a veritable investment entity by notable Nigerians but has since turned out to be a front for a monumental scam. They have defrauded their investors, refusing to pay Investors their Principal not to talk of interest. The duo of Barr Adebola Adetayo and Mr. Oluwadahushola Taiwo are the individuals who masterminded the scam that Greeneaglesagribiz is, setting out with the sole intention of defrauding individuals of their hard earned monies.
    Innocent investor’s believed that the said Agrictech was genuine after it got attractions and endorsement from Public figures/agencies and personalities like Dr Emmanuel Ijewere, Dr christopher kolade, Hon Wafarninyi Theman and Television Continental (TVC).
    It’s sad that these non-executive directors used their capacity, public office and personality to make believe that GreenEaglesAgricBiz was a genuine venture.
    The Public should be careful and do due diligence before carrying further business or financial transactions of those whose pictures are attached.
    Below are their pictures and profile of some of the Executive and non Executive Directors:

    Emmanuel Ijewere is one of Nigeria’s most respected Accountants/Tax Consultants and is an Independent Director of Nova Merchant Bank Limited. Who is currently the National Coordinator of the Nigeria Agribusiness Group which is the umbrella body for agriculture and agribusiness in Nigeria

    Dr christopher kolade is a veteran broadcaster and sometime Director–General of the Nigerian Broadcasting Corporation. He was Chief Executive and Chairman of Cadbury Nigeria Plc and formerly the Nigerian High Commissioner to The United Kingdom. He was a colonial era Education Officer in Nigeria

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Ether trades at $1,900 on the success of Goerli Testnet merge
    • 20 Lucky Kids Rewarded with N4m in UBA Kiddies and Teens Draw
    • Bank managers cause of bank failures in Nigeria – NDIC

    Follow us on social media:

    Recent News

    Ethereum network has burned over $334 million

    Ether trades at $1,900 on the success of Goerli Testnet merge

    August 11, 2022
    20 Lucky Kids Rewarded with N4m in UBA Kiddies and Teens Draw

    20 Lucky Kids Rewarded with N4m in UBA Kiddies and Teens Draw

    August 11, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com