Newman Foods focuses on the production and marketing of branded consumer foods sold through retail stores in the local and regional markets, as well as the aggregation and export of fresh fruits and vegetables (FFV) to the European market.
The investment, comprising of a blend of equity and quasi-equity, will be channeled towards scaling the company’s consumer foods and snacks segment through the construction of a new processing facility.
It will also enable the acquisition of larger modern equipment to improve the production throughput, support the company to improve packaging, branding and increased marketing of Newman products, as well as to augment its supply network for the consumer foods segment.
“Newman Foods is a vibrant growing company with significant growth potential, thanks to its strong brand and market visibility. However, our growth has been stifled by a lack of patient capital to scale our production capacity and implement production efficiencies to unlock the commercial facets.
“The Yield Fund investment could not have come at a better time, as we now have a great opportunity to implement a sustainable growth strategy in our value addition category.
“This investment has given the company the confidence to engage many of our smallholder farmers, who are pivotal to our business, and to develop a sustainable integrated supply chain,” said Mr. Nasser Segujja – Managing Director, Newman Foods Ltd.
