Kingdom Zephyr is set to go for caned tuna business with its investment in Thunnus Overseas Group (TOG), a major producer and distributor of canned tuna in Africa with operations in Côte d’Ivoire, Madagascar and France. It is the second investment from its Pan African Investment Partners II fund (PAIP II), and demonstrated Kingdom Zephyr’s appetite and flexibility to get involved in diverse sectors across Africa.
According to the company it is investing alongside Emerging Capital Partners on this new venture. TOG is one of Africa’s leading manufacturers of canned tuna, exporting nearly all of its production to Europe with a strong market share in France. The company told that its vital customers include some of the leading retailing chains in France and Europe, including Auchan, Carrefour and Leclerc.
Kingdom Zephyr has said to supplies to the catering and restaurant industry and will resume sales of branded products under its own brand “Pompon Rouge” in the near future. Sofiane Lahmar, a London-based Partner at Kingdom Zephyr, told that the deal will help TOG consolidate its operations, reorganise itself into a more institutionalised business with improved corporate governance standards, and expand into new markets in Europe and the Middle East and north Africa region.
