Takura Capital wins Mozambican vegetable producer auction

Zimbabwean private equity firm Takura Capital has bought Vanduzi, Mozambique’s largest fresh vegetable producer following a competitive auction process. The seller of the business is a UK-based family office which was advised exclusively by Verdant Capital, a specialist corporate finance firm on the continent. The deal, which was transacted on behalf of Takura’s $50 million second private equity fund, was led by the Harare-headquartered firm’s Managing Partner, Stanley Musesengwa. The financial terms of the deal were not disclosed.

Commenting on the sale, Edmund Higenbottam, Verdant’s Managing Director noted that “Notwithstanding the challenges of operating in Mozambique in light of the recent political and economic uncertainty, the process attracted multiple bids for the business.” Takura won out over a varied mix of trade buyer and private equity firm bidders, many of whom were from Southern and Eastern Africa.

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