Bidco Africa expands into breakfast cereals and snacks with acquisition of Groupaco Holdings Ltd

KENYA – Bidco Africa Group has announced the acquisition of Groupaco Holdings Ltd (GHL), marking its strategic entry into the breakfast cereals and snacks market.

The deal, unveiled on March 4, includes the takeover of GHL’s assets and popular brands such as Fillows, Shapies, Elbbin, and Nibble.

Speaking on the deal, Bidco’s Executive Chairman, Vimal Shah, expressed confidence in the integration of GHL’s brands into the company’s ecosystem.

“We are excited to welcome GHL’s brands into the Bidco family. These brands align perfectly with our mission to provide high-quality, locally produced food products to consumers across the region. We look forward to scaling them further and delivering even more innovation and value to our customers,” Shah stated.

This move further expands Bidco’s portfolio, which has grown significantly since its inception in 1985 as a soap manufacturer to become a powerhouse in the FMCG sector, producing a range of edible oils and fats, hygiene and personal care products, and food and beverage brands.

The acquisition is expected to leverage Bidco’s extensive manufacturing and distribution network to enhance production efficiency and improve supply chain operations.

GHL’s CEO, Ahsan Manji, welcomed the development, emphasizing that Bidco’s leadership would drive the brands to new heights.

“This is a major milestone for our brands. We are proud of what our team has built, and we are confident that under Bidco’s leadership, our brands will continue to grow, flourish, and reach new heights,” Manji remarked.

This expansion follows closely on the heels of another major deal, Bidco’s joint venture, Bidcoro Africa Limited, receiving regulatory approval to fully acquire Suntory Beverage & Food Kenya Limited, the company behind Ribena and Lucozade brands.

Bidcoro Africa, a partnership between Bidco and Denmark-based Co-Ro Food, aims to strengthen the beverage sector in East Africa.

Bidco has established itself in the region, supplying its products to over 17 African countries, including Kenya, Tanzania, Uganda, Rwanda, Burundi, Ethiopia, Sudan, South Sudan, Eritrea, Zambia, Malawi, Madagascar, the Democratic Republic of Congo, Comoros, Zanzibar, and Somalia.

Leadership changes drive strategic growth

Bidco’s expansion is part of a broader transformation strategy that included key leadership changes. In January 2024, three top executives who had joined the company from UK multinational Diageo in 2022 left the firm.

Gerald Mahinda, former Managing Director of Dance Africa Corporation, a Bidco subsidiary, exited alongside Chief Growth Officer Baker Magunda and John K’Otieno, who headed operations at the Mauritius-based subsidiary. The trio was initially tasked with spearheading Bidco’s expansion across the continent.

Confirming the leadership transition, Bidco’s chairman Vimal Shah stated in an internal notice. “Today marks the transition of our leadership as our esteemed Board of Directors takes the helm to steer us toward our next chapter, while we bid farewell to valued colleagues – Baker Magunda, Gerald Mahinda, and John K’Otieno, who will no longer hold any position within our Group with immediate effect.”

While their departure was announced in 2024, the move might have formed part of a strategic restructuring to strengthen the company’s market position and pave the way for new investments, including the latest acquisitions.

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