UK-base private equity company Development Partners International (DPI) has invested US$56m into Société Industrielle des Conserves Alimentaires (SICAM). SICAM is a leading agribusiness and tomato processor in Tunisia with a large canned food range.
SICAM is Tunisia’s leading producer of canned vegetables, pastes, pizza sauces and jams. It is one of the most recognized brand names in Tunisia’s food sector. SICAM was founded in 1969. It is wholly owned by the Bayahi Group, a Tunisian conglomerate that owns more than 30 companies across a variety of sectors.
SICAM operates a vertically integrated model, with its subsidiary PROCAN manufacturing metallic cans for SICAM in various formats. SICAM subsidiary SICAM AGRI, also provides farmers with technical advice, financing, tools and agricultural inputs.
The DPI investment will allow SICAM to further improve the incomes of the farmers it partners with and the sustainability of food supply in the country. DPI, which is focused on investments linked to Africa’s growing middle class, backed Sicam through its Africa Development Partners III fund.
