Invictus Investment acquires Merec Industries

Invictus Investment Company Plc, a prominent agro-food enterprise based in Dubai, has completed a significant acquisition of Merec Industries, Mozambique's largest flour milling company, through the purchase of its holding entity, Stratton Africa Holdings Limited in Mauritius, from shareholders Amethis Fund II and Merec Financial. This acquisition marks Invictus' second major transaction in Africa, following its earlier purchase of a 60% stake in Moroccan grain trader Graderco. Merec Industries operates strategically located state-of-the-art milling and food production facilities across Mozambique and plays a critical role in the nation’s food security. Led by CEO Amir Daoud Abdellatif, Invictus projects this acquisition to increase its consolidated revenues by over AED 1 billion annually, helping to more than double its EBITDA by 2025. This transaction aligns with Invictus’ strategy to expand its agro-food business across high-potential markets in Africa and the Middle East, thereby supporting local economic growth and food security. The long-term goal is to become a fully integrated agro-food enterprise with aspirations to generate AED 25 billion in revenue by 2028. The deal also stands to benefit Mozambique’s food security and economy through improved industrial capabilities and job creation.