Amethis successfully sold its stake in Merec Industries to Invictus PLC, following a significant period of growth and expansion in Mozambique's milling sector.

Target Information

Amethis is pleased to announce its successful exit from its investment in Merec Industries, a major player in the milling and production of wheat-based products in Mozambique. The initial investment, made in 2018 in collaboration with partners Proparco and Kibo Capital Partners, aimed to support Merec’s expansion of production facilities and its diversification into a regional consumer goods group. Over the years, Merec has emerged as a crucial supplier, providing half of Mozambique's wheat supply and improving access to nutritionally enhanced staple foods such as bread and pasta.

Founded in 1998, Merec has become the undisputed leader in milling and wheat product transformation in Mozambique, manufacturing and distributing a range of products including pasta, biscuits, animal feed, and branded bread not only within Mozambique but also to neighboring countries. It currently employs over 900 workers, significantly increasing its workforce since Amethis's initial investment.

Industry Overview in Mozambique

Mozambique’s economy has been characterized by a variety of challenges, including high rates of poverty and limited access to basic necessities. However, the food production sector, particularly milling, has