Aurangabad-based RJ Feeds Pvt Ltd has gone to Africa for its first acquisition. The company has recently acquired Tanzania-based integrated poultry firm Gold’N Chiks Ltd for an undisclosed amount. The deal involves 100 per cent buyout of the existing promoter’s stake and has been funded through internal accruals and bank financing.
This is also the maiden acquisition for Rs 500 crore RJ Group, which has interests in integrated poultry business, agri-biotechnology, and fertilisers & natural pesticides manufacturing, among others. Khadkeshwar Hatcheries, the flaship company of the group is one of the largest integrated poultry players Maharashtra.
“The group expects to leverage its vast experience in poultry business to expand its footprint into other African countries like Ethiopia, Kenya, etc.,” a company statement said.
Hyderabad-based Akasam Consulting was the advisor to RJ Feeds on the transaction. Akasam is also advising RJ Group on strategic reorganisation of its various businesses.
The Group, led by first-generation entrepreneur Raghavendra Joshi, is also looking to consolidate its presence in poultry and agriculture space through strategic partnerships both India and abroad.
Dar es Salaam-based Gold’N Chiks is a full scale poultry house with bird-rearing facilities, automatic feed mill and a dressing plant integrated with blast-freezing and refrigerated storage facilities. It also owns a popular brand for retailing chicken.
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