UAE's Organic Foods & Cafe sells majority stake to Gulf Japan Food Fund

Private equity fund backed by Gulf sovereign investors, Japanese firms

  
E-commerce. Image used for illustrative purpose.

E-commerce. Image used for illustrative purpose.

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International private equity fund Gulf Japan Food Fund (GJFF) has acquired a majority stake in UAE’s renowned Organic Foods and Café (OFC).

The deal is the eighth transaction by the $390 million fund that is backed by Gulf sovereign investors and Japanese institutions, including Mizuho Bank and The Norinchukin Bank of Japan, the new deal represents the 8th transaction.

The fund confirmed the acquisition in a statement issued on Monday, without providing further details.

Established in 2016 to invest in the food industry in the Middle East, Japan and other markets, the fund leverages a global network of strategic partners, food industry platforms and business relationships to add value to its investments.

OFC has been operating in the UAE since 2004. It is a family-run enterprise focused on the sale of organic products, including fresh produce, packaged goods, frozen foods, meat, dairy products, beverages, breads, supplements and household cleaning supplies.

(Writing by Cleofe Maceda; editing by Seban Scaria)

Cleofe.maceda@refinitiv.com 

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© ZAWYA 2020

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