An American family has bought Biyinzika Poultry International – one of Uganda’s top poultry breeder farm.
The transaction, whose terms were not disclosed, was advised by South African firm, Verdant Capital.
“Verdant Capital has advised a leading UK private equity firm on the sale of Biyinzika Poultry International Limited (“BPIL”), a vertically integrated poultry business in Uganda, to an investor consortium including a US single-family office and a regional industry executive,” said The sale represented a 100% interest in BPIL,” Verdant Capital said in a statement to ChimpReports on Thursday night.
BPIL was founded in 1990 as a poultry breeder farm and has grown over the years to establish itself as a key player in the Ugandan poultry industry.
It is a leading supplier of day-old chicks, poultry feeds, broilers, and branded and unbranded dressed chicken.
It trades under brand names, including Pearl Chicken and Biyinzika Feeds.
Biyinzika Poultry International is different from Biyinzika Enterprises Limited (BEL) which has been struggling with bank loans.
In 2014, a venture capital fund known as 8 Miles provided equity to Biyinzika Poultry owned by businessman Samuel Mukasa for the company to expand. The company was renamed Biyinzika International.
At the time, the company wanted to sharpen its focus on new products for regional markets.
8 Miles eventually took over the management of the business, compelling Mukasa to open Biyinzika Enterprises which is now struggling with loans.
Biyinzika Poultry International recently assured its “valued customers, partners, and stakeholders that our operations remain robust, and we remain focused on our commitment to providing high-quality poultry products to Uganda and the East African region.”