IHC of Abu Dhabi is attempting to purchase between 25 and 31.25 percent of Grupo Nutresa, a Colombian food manufacturing company, for $15 per share. This is an expansion of IHC’s holdings in the agriculture and food industries. IHC Capital Holding has made the offer on behalf of the seller.
Grupo Nutresa, a $4 billion business, owns around 70 brands selling in more than 60 countries. It’s strengths are obviously in the Americas, and its product range extends to biscuits, chocolates, coffee, ice cream and pasta. The $15 a share offer constitutes a premium on the current $10 the stock is quoted at.
Abu Dhabi’s investment giants have been laser focussed on direct stakes across various layers of the global food industry. In the recent past, ADQ bought a stake in the agribusiness Louis Dreyfuss, while Mubadala Capital has one in K-Mac Enterprises, the second biggest Taco Bell franchise in the US. And in April this year, ADQ was at it again, this time buying a majority in Unifrutti, the fresh fruits company.
IHC has recently acquired interests in the Adani Group enterprises in India and Kalyon Enerji, a Turkish renewable energy company, through a Dh1.1.8 billion transaction. IHC’s stunning Dh10.3 billion in net profit for the first half of 2022 was made possible by the sustained portfolio expansion.
