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The international private equity fund Gulf Japan Food Fund (GJFF) has acquired a majority stake in the famous Organic Foods and Café (OFC) of the United Arab Emirates.
The deal is the eighth transaction of the $ 390 million fund backed by Gulf sovereign investors and Japanese institutions including Mizuho Bank and The Norinchukin Bank of Japan, the new deal represents the 8the transaction.
The fund confirmed the acquisition in a statement released Monday, without providing further details.
Established in 2016 to invest in the food industry in the Middle East, Japan and other markets, the fund leverages a global network of strategic partners, food industry platforms and trade relationships to add of value to its investments.
OFC has been operating in the United Arab Emirates since 2004. It is a family business focused on selling organic products including fresh produce, packaged goods, frozen food, meat, dairy, beverages, bread, supplements and household cleaning products.
(Written by Cleofe Maceda; edited by Seban Scaria)
Cleofe.maceda@refinitiv.com
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© ZAWYA 2020
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