This archive report was first published on 10 September 2019.
On September 10, 2019, Twiga Foods founders made a strategic decision to sell part of their stake to Creadev, a French long-term investment company, for 500 million Kenya shillings.
The move was part of a new strategy to accommodate both investors at a later stage and for the long term. This involved the sale of their stake by several investors, including Blue Haven Ventures, Crescat Limited, Omidyar Networks, Index Ventures, Adolf H Lundin Charitable Foundation, Uqalo, DOB equity, Wamda Capital, 1776 Venture Capital, AHL Venture Partners, and Alpha Mundi.
Creadev, a French Evergreen investment firm managed by the Mulliez Family, has a presence in Paris, Nairobi, and New York. The company primarily invests in businesses that provide essential goods and services, such as food, healthcare, education, employability, and the environment.
Twiga Foods works with approximately 17,000 farmers and 2,500 retailers. Creadev's investment aims to enhance Twiga's mission of delivering safe, affordable, and high-quality food while creating reliable markets for farmers.
Related articles: French Entrepreneurial Family Acquires Sh 500M Stake in Twiga Foods, Twiga Foods to Offer Blockchain-Based Microloans to Food Kiosk Owners in Kenya, and Twiga Foods Secures 300Mn Funding from the IFC
