APO News, (SA): Verdant Capital has advised a leading UK private equity firm on the sale of Biyinzika Poultry International Limited (“BPIL”), a vertically integrated poultry business in Uganda, to an investor consortium including a US single-family office and a regional industry executive.
The sale represented a 100% interest in BPIL.
BPIL was founded in 1990 as a poultry breeder farm and has grown steadily over the years to establish itself as a key player in the Ugandan poultry industry. It is a leading supplier of day-old chicks, poultry feeds, broilers, and branded and unbranded dressed chicken. It trades under brand names, including Pearl Chicken and Biyinzika Feeds.
ALSO READ: Biyinzika’s poultry business empire collapses over bank loan
The transaction reinforces Verdant Capital’s position as a leading advisor to private equity clients in Africa and builds on its market-leading sector competence in advising on transactions in the food and agri-business sector.
In 2023 alone, Verdant Capital has completed three transactions in the food and agri-business sector. The transaction builds on Verdant Capital’s leading pan-African M&A league table positions in recent years, including in 2022, its rankings of fourth and first in the DealMakers pan-African and East African league tables, respectively.
Terms for the transaction were not disclosed.
Biyinzika history
In 2014, a venture capital fund known as 8 Miles provided equity to Samuel Mukasa’s Biyinzika for their poultry business to expand. The company was renamed Biyinzika International.
The company 8 Miles eventually took over the management of the business, compelling Mukasa to open Biyinzika Enterprises, which is now struggling with loans.
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Source: APO
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