Nigerian agri-tech startup Farmcrowdy has announced the acquisition of Best Foods (L&P) to offer a wider livestock production and processing solution to the meat market.
The acquisition sees Farmcrowdy take a majority stake in Best Foods, an agribusiness group formed 16 years ago and focused on the processing of livestock and marketing of agricultural produce.
It will provide Farmcrowdy the opportunity to continue to grow its livestock value chain with an improved process for livestock production and processing to reach the desired high standards fit for local consumption and export where necessary.
The expansion will also enable Farmcrowdy to become the preferred source of processed livestock across Nigeria. The expanded business will serve over 50 meat markets across the south-western zone of Nigeria, and will manage over 100 consumer endpoints.
“Best Foods offers an exciting opportunity for Farmcrowdy to strengthen and expand its service offering in livestock production, processing, and supply,” said Kenneth Obiajulu, managing director of Farmcrowdy.
“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.”