EXEO Capital’s Agri-Vie Fund II has acquired a 36.5% stake in Jumbo Brands, the South African beverages and snacks manufacturer, for an undisclosed stake.
Jumbo Brands was founded in Durban in 1985 and manufactures water in sachets, fruit juice concentrates, squash, cordials, coffees, hot chocolate, condiments, savoury snacks and ice lollies. It markets products under the Boston; Cafè Enrista; Fiestas and Jolly Jumbo brands. Its products are primarily aimed at mass market consumers in South Africa.
Agri-Vie Fund II is one of EXEO Capital’s two private equity funds focused on food and agribusiness investments in Sub-Saharan Africa. EXEO has investments in Africa Juice (Ethiopia, juice), Dew Crisp (South Africa, packaged salads), Fairfield Dairy (South Africa, dairy), New Forests Company (East Africa, timber), Hygrotech (South Africa, seeds and agricultural inputs), TerraSan Group (South Africa, fishing/aquaculture), Marginpar Group (Kenya, cut flowers) and Capital Fisheries (Zambia, fish/seafood distribution).