Farmcrowdy Acquires Meat Processor Best Foods (L&P)

Farmcrowdy announces the acquisition of Best Foods (L&P) to render wider livestock production & processing solutions to the market. With this acquisition, Farmcrowdy now holds majority stakes in Best Foods which caters wholesome livestock and locally grown agricultural produce at affordable prices. Best Foods is one of the largest meat processors in Nigeria with the capacity to process 120 - 200 bulls daily.

This acquisition will assist Farmcrowdy in expanding its meat value chain with improved livestock production and processing to meet international standards. Farmcrowdy will also establish as the preferred source of processed meat across Nigeria starting with Lagos. The company will cater to over 50 meat markets across South-Western Nigeria, managing 100+ consumer endpoints.

According to Onyeka Akumah, Founder and CEO of Farmcrowdy, the AgTech platform is set to enter the meat retail market with the launch of Farmcrowdy Meat Hubs in Q2-2020 to provide access to quality meat via technology, produced and traded by Farmcrowdy.

Farmcrowdy will cater to over 50 meat markets across South-Western Nigeria, managing 100+ consumer endpoints

Kenneth Obiajulu, Managing Director of Farmcrowdy states, “Best Foods offers an exciting opportunity for Farmcrowdy to enhance its service in livestock production, processing, and supply”. He also adds, “The acquisition supports Farmcrowdy's strategy to lead the market and meet necessary requirements to increase our supply of 45 cattle daily for consumption.”

Emmanuel Ijewere, Founder of Best Foods, says, “This deal with Farmcrowdy is a welcome development for us as it provides a major growth opportunity for both businesses. We are excited about the many possibilities.” Ijewere will be joining Farmcrowdy as a member of the advisory board.