Agriculture
Farmcrowdy Concludes Best Foods L&P Ltd Acquisition
Innovative technology-based agrobiz company, Farmcrowdy, has officially acquired Best Foods (L&P) Limited to offer a wider livestock production.
Ekohotblog understands that the recent acquisition is an expansion of Farmcrowdy operations base.
This online news platform also reports that Farmcrowdy plans to fully enter the meat retail market with the formal launch of Farmcrowdy’s meat hubs which is slated to take place in Lagos by second quarter of the business year 2020.
According to an official report, the Lagos market alone consumes about 6, 000 cattle daily while Nigeria processes over 1.2 billion chicken annually.
Commenting on the acquisition and project expansion drive, the Managing Director, Farmcrowdy Limited, Kenneth Obiajulu, said Best Foods offers an exciting opportunity for the new organisation to strengthen and expand its service offering in livestock production, processing, and supply.
He also added that with a range of high profile clients, the acquisition supports Farmcrowdy’s strategy, which is to lead the market and meet the requirements necessary to process approximately 45 cattle daily for meat consumers in the Lagos market.
Founder and Chief Executive, Best Foods Limited, Emmanuel Ijewere, noted that Farmcrowdy’s acquisition of Best Foods provides a significant growth opportunity for both businesses through an extended service offering to clients.
Founder & CEO of Farmcrowdy, Onyeka Akumah, stated that the organisation remains Nigeria’s leading Agritech company using technology to change the way people invest in Agriculture and grow the food they eat.
“Today, this acquisition of Best Foods L&P Limited is a major milestone for the entire team, knowing that we only launched Farmcrowdy 3 years ago with a bunch of 20 & 30-year-olds.
I grew up learning about the impact Best Foods and Mr. Ijewere had made in the Agriculture space in Nigeria. We are absolutely delighted to welcome him to the Board of Farmcrowdy as we continue to grow this space together.
“Expect more collaborations and deals like this to grow the Agriculture sector and Farmcrowdy. We are happy to make plans for launching Farmcrowdy Meat Hubs. This will enable people to order for the meat they sponsored for consumption. We manage the farms till harvest and now, people can order the meat. We are completing the full-cycle for livestock on our platform”, he said.
Best Foods is an agribusiness group of over 16 years, focused on the processing of livestock, farming, and marketing of agricultural produce.
Best Foods L&P Limited was established to provide wholesome livestock and agricultural produce grown in Nigeria at affordable prices within and outside the country.
The company is credited as one of the largest meat processors in Lagos, Nigeria. It can process 120 – 200 bulls every day.
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