Helios to acquire up to 49% stake in Mozambique’s Merec
The agreement combines Helios’ African investment experience with Invictus’ agro-food expertise as Merec prepares for its next growth phase.
MOZAMBIQUE – Helios Investment Partners has agreed to acquire up to a 49% stake in Stratton Africa Holdings Limited, the Mauritius-incorporated holding company of Merec Industries, Mozambique’s largest flour milling company, from Invictus Investment.
The proposed transaction will be executed through Helios Fund V, with financial terms remaining undisclosed.
Completion is expected by the end of 2026, subject to regulatory approvals and other customary closing conditions. Invictus will retain majority ownership following the transaction.
Founded in 1998, Merec processes wheat and maize into a diversified portfolio of essential food and agricultural products, including flour, pasta, biscuits and animal feed.
The company plays a significant role in Mozambique’s grain-processing industry, supplying products to wholesalers, retailers, bakeries, feed producers and distributors through an extensive national distribution network.
Merec operates mills, production facilities and grain silos in Beira, Maputo and Nacala, Mozambique’s three principal port regions.
This geographical footprint makes it the only milling company in the country with manufacturing facilities across all three locations.
The company also owns a grain terminal at the Port of Maputo, strengthening its capacity to handle imported grain and distribute processed products across domestic markets.
The investment is expected to support Merec’s next phase of growth, including expansion into additional food categories in Mozambique and other markets within the Southern African Development Community (SADC).
The partnership will combine Helios’ experience in investing in and scaling African businesses with Invictus’ expertise in agricultural commodities, grain trading, logistics and food processing.
Invictus acquired Merec in January 2025 by purchasing Stratton Africa Holdings, as part of its strategy to strengthen its agro-food operations across high-potential African markets.
Since the acquisition, the company has reported improved operating performance, encouraging plans to broaden its product portfolio and regional presence.
Helios co-founder and managing partner Tope Lawani said Merec’s established brands, nationwide reach and position in Mozambique’s staple foods market provide a strong foundation for further expansion.
Invictus chief executive Amir Daoud Abdellatif said the partnership would help accelerate Merec’s development into a regional food platform while supporting food security and employment.
Beyond commercial expansion, the investors intend to strengthen corporate governance, management capabilities and environmental, social and governance practices.
The proposed transaction highlights continued investor interest in Africa’s food-processing sector, where growing demand for staple foods creates opportunities to expand local milling capacity, add value to agricultural commodities and develop regional supply chains.
Sign up to HERE receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.
