Farmcrowdy has acquired the livestock and seafood processing company Best Foods Global Nigeria Limited. The acquisition will enable Farmcrowdy to offer livestock production and processing solution in Nigeria. It will also enable the agritech to launch retail meat hubs in Nigeria by the 2nd Quarter of 2020.
Farmcrowdy is an agritech platform that empowers rural farmers with improved seeds and modern farming technology. It also allows people the opportunity to crowdfund and invest in specific agro portions. They will leverage the recent acquisition to operate a new line of business and help Nigerians access well-processed meat and seafood.
The acquisition will also enable Farmcrowdy to control majority stakes in Best Foods’ assets, teams, and customer contracts to supply meats across Nigeria. They will also grow Best Foods’ Livestock value chain through improved technologies, as it increases meat standards to fit local consumption and export needs.
The business will also grow to serve 50 meat markets-including beef and poultry- across the South-West Zone in Nigeria. The group will also manage 100 consumer endpoints.
The Founder of Best Foods, Emanuel Ijewere has lauded the acquisition. He noted that the acquisition will be providing a major growth opportunity for both companies. And will offer him the opportunity to join the agritech as an advisory board member.
The Founder and CEO, Farmcrowdy, Onyeka Akumah also commended the acquisition as it serves as a major milestone for the agritech. Akumah also noted the acquisition will help the agritech to change the narrative of agriculture and meat consumption in the country.
Akumah also announced the launch of meat hubs where people can daily sponsor livestock farms on the Farmcrowdy platform. Also, consumers can now seamlessly order meat from meat hubs.
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