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Pangea Africa and Black Star Africa have announced the joint acquisition of a majority stake in Eden Tree, a producer and distributor of fresh, packaged fruits and vegetables in Ghana. The new investors bought out impact fund manager Investisseurs & Partenaires (I&P), which held shares in the company since 2015.
Founded in 1997 by entrepreneur Catherine Krobo Edusei, Eden Tree has grown from a single-room packaging operation into a household brand in Ghana, managing a vast network of outgrower farmers and a processing facility in Tema.
“From our humble beginnings, we proved that Ghanaian agribusiness can meet strict international standards of safety, quality, and consistency. I am proud to pass the baton of stewardship to Pangea and Black Star Africa,” said Krobo Edusei.
“Catherine’s resilience, vision, and operational grit since 1997 have built a foundational asset that is ready for regional scale,” said Tracy Boswell Scicchitano, incoming board director of Eden Tree and director at Pangea Africa.
“Our immediate focus is operational optimisation,” added Grant Webber, incoming chief executive officer of Eden Tree and representative of Black Star Africa. “By combining Black Star’s turnaround execution with Pangea’s strategic capital, we are building an integrated West African fresh food champion.”
“The secondary exit of I&P Afrique Entrepreneurs Fund from Eden Tree represents a healthy, mature investment lifecycle in Ghana,” said Francis Owusu of I&P. “We are proud of our decade-long partnership with Catherine Krobo Edusei, during which the company expanded its processing facilities and professionalised its operations. We leave Eden Tree in the exceptionally capable hands of Pangea and Black Star Africa, who have the strategic vision and local operational capacity to take this business to its ultimate potential.”
* Read more from How we made it in Africa: How Ghana’s Catherine Krobo Edusei capitalised on demand for high-end fresh produce
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