A top Africa investor is betting on bread, pasta and animal feed. The target is the firm that feeds much of Mozambique.
Helios Investment Partners will buy up to 49% of Stratton Africa Holdings. It owns Merec Industries, Mozambique’s largest flour miller. Abu Dhabi-listed Invictus Investment stays the majority owner and runs the business. Helios is investing through its Helios Fund V. The deal should close by the end of 2026 if regulators agree. The price was not disclosed.
Invictus bought full control of Merec in January 2025. It saw the firm as a way into Africa’s food markets. Since then, it has improved how Merec runs. Now the partners plan to add new food lines in Mozambique and nearby SADC states. They also plan to improve governance, build the leadership team and deepen local impact.
Merec began in 1998. It mills wheat and corn into flour, pasta, biscuits and feed. It is the only miller with plants and silos in all three main port regions: Beira, Maputo and Nacala. It also runs its own grain terminal at the Port of Maputo. Its delivery network supplies bakeries, feed makers, wholesalers and shops.
“Our shared ambition with Helios is to build on the business’s contribution to food security and local employment in Mozambique and develop it into a regional food platform for Southern Africa,” said Amir Daoud Abdellatif, Invictus CEO. Tope Lawani, co-founder of Helios, said Merec has “a nationwide footprint, strong brands and an important role in the country’s staple foods market.” He added that firms serving daily needs are a key focus for Helios.
Akin Gump advised Helios, with GDA Advogados as its Mozambican counsel. Freshfields advised Invictus.
Why it matters: People buy flour even when budgets are tight. A miller with its own silos and grain terminal can steady costs and supply. Helios may bring money and know-how to help Merec grow beyond flour and across the region. It also shows that big investors see African food makers as safe bets.
What to watch next: regulatory approval and closing by the end of 2026, which new food lines Merec adds, and whether it enters other SADC markets.
Sources: Innovation Village on Helios and Merec; Club of Mozambique on Invictus buying Merec; Milling and Grain on Invictus buying Merec.
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