Farmcrowdy acquires Best foods Farms, set to launch retail meats hub
Farmcrowdy, an innovative technology based agrobiz company has announced it has recently acquired BestFoods Livestock and Poultry (L&P) Limited, a leading agribusiness group with the objective of offering wider livestock production and processing solutions to consumers across Nigeria’s meat market.
Following the recent acquisition and expansion of its operations base, the company disclosed also its 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.
Known for its prowess in adapting technology to agriculture, the proposed company hubs will provide quality meat which would be produced and traded by Farmcrowdy for everyday consumption deploying latest technological innovations.
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, adding 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.
Also commenting on the development, Founder and Chief Executive, Best Foods Limited, Emmanuel Ijewere noted that Farmcrowdy’s acquisition of Best Foods provides a major growth opportunity for both businesses through an extended service offering to clients.
As part of the unfolding business deal, Best Foods Founder, Emmanuel Ijewere will join Farmcrowdy as a member of the advisory board of the organisation.
In a similar vein, Onyeka Akumah, Founder & CEO of Farmcrowdy 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.
In his word: “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.”
Continuing, he said: “Expect more collaborations and deals like this to grow the Agriculture sector and Farmcrowdy. We are happy to make plans towards 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.”
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 has the capacity to process 120 – 200 bulls every day.
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