Cape Town, South Africa, 13 January 2016: Old Mutual Private Equity (OMPE), a division within Old Mutual Alternative Investments, has announced that it has acquired a significant minority stake in In2food, a leading convenience food manufacturing business.
In2food is a South African based business providing convenient and fresh quality food products to its local and international customers. It produces a diversified food portfolio including fresh and prepared produce, prepared convenience meals, beverages, snack products and baked goods.
“We are excited to partner with In2food’s founders, fellow shareholders and management who have built a wonderfully successful business” says OMPE investment principal Mohsin Cajee. “We are pleased to invest in a sector directly linked to the consumer food market with relatively defensive characteristics.
In2food CEO, Richard Cooper, says that the business has developed rapidly in recent years and it was important that they find the best possible partners to enable them to continue their successful journey. “In OMPE, along with our existing partners, I am very confident that we have found people that share our vision and values and I am very excited by the prospect of what we can create. There is still much opportunity in our chosen sector of the food market and together we will continue to use this opportunity to grow an even more successful business and make a positive impact throughout South Africa. ” he says.
“In2food’s management expertise and its world-class manufacturing capabilities were key ingredients in assessing the investment,” says OMPE investment principal Farhad Khan. “However, we believe that culture often trumps strategy and at In2food we found a management team that shares our values, culture and partnership mentality.”
OMPE’s partnership with In2food provides it with a platform for expansion in the sector as well as the ability to expand locally and internationally. This will be OMPE’s sixth investment in Fund IV, a R4-billion fund.
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