Helios to acquire 49% stake in Mozambique’s largest flour mill

Helios Investment Partners has agreed to acquire up to a 49 per cent stake in Merec Industries, Mozambique’s largest flour milling company, from Invictus Investment.

The transaction, announced on October 26, is expected to be completed by the end of 2026, subject to regulatory approvals and other customary closing conditions.

Invictus will retain its majority stake in Merec following the transaction. The deal will bring together Helios’ investment experience across Africa and Invictus’ expertise in the agro-food sector to support Merec’s expansion in Mozambique and other Southern African markets.

Founded in 1998, Merec processes wheat and corn into flour, pasta, biscuits and animal feed. Its mills, production facilities and silos are located in Mozambique’s three principal port regions of Beira, Maputo and Nacala. The company also owns a grain terminal at the port of Maputo and operates a nationwide distribution network serving wholesalers, retailers, bakeries, feed producers and distributors. Invictus acquired Merec in January 2025 through the purchase of its holding company, Stratton Africa Holdings Limited. Since then, the company’s operating performance has improved, prompting plans to expand into new food categories and markets across the Southern African Development Community region.

Tope Lawani, Co-Founder and Managing Partner of Helios Investment Partners, said Merec’s established market position, strong brands and nationwide reach offered significant opportunities for growth.

He said Helios would work with Invictus and Merec’s management team to strengthen the business and expand its operations.

Amir Daoud Abdellatif, Chief Executive Officer of Invictus Investment, said the partnership would help accelerate Merec’s growth and strengthen its contribution to food security and local employment in Mozambique.

He added that both investors aimed to develop the company into a regional food platform serving Southern Africa.

The shareholders also plan to strengthen Merec’s governance, leadership capabilities and environmental, social and governance practices as part of the expansion strategy.

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