Twiga Foods founders to sell their stake to French Company Creadev

Twiga Foods founders have recently sold part of their stake to Creadev, a French long-term investment company. The founders sold their stake for 500 million Kenya shillings.

This was a decision based on a new strategy they had adopted to accommodate both investors at the later stage and long term. These investors who sold their stake include; Blue Haven Ventures, Crescat Limited, Omidyar Networks, Index Ventures, Adolf H Lundin Charitable Foundation, Uqalo, DOB equity, Wamda Capital, 1776 Venture Capital, AHL Venture Partners, and Alpha Mundi.

Creadev is a French Evergreen investment firm that is managed by the Mulliez Family. They are based in Paris, Nairobi and New York. Creadev mainly invests in companies that help to ensure widespread access to essential goods and services such as food, healthcare, education, employability, and the environment.

Twiga foods works with about 17,000 farmers and 2,500 retailers. Creadev joined Twiga’s shareholding in order to enhance Twiga’s mission to deliver safe, affordable high-quality food to consume as they create reliable markets for the farmers.

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