Helios Investment Partners said on 21 October 2026 that its fifth fund had agreed to buy up to 49% of Merec Industries, Mozambique's largest flour milling company, from Abu Dhabi-listed Invictus Investment.
Why Helios Investment Partners (Helios Fund V) is buying Merec Industries (up to 49% of Stratton Africa Holdings, from Invictus Investment)
The partners plan to expand Merec beyond its core milling operations into new food categories in Mozambique and across the Southern African Development Community, and to strengthen governance, leadership and ESG practices.
“Merec has built a distinctive position in Mozambique, with a nationwide footprint, strong brands and an important role in the country’s staple foods market.”
Deal terms and financing
Helios Fund V will acquire up to 49% of Stratton Africa Holdings, Merec's Mauritius-incorporated parent. Invictus, which acquired Merec in January 2025, will remain the majority shareholder. Financial terms were not disclosed.
Regulatory approvals and timing
Closing is expected by the end of 2026, subject to customary conditions including regulatory approvals.
Market context
Founded in 1998, Merec processes wheat and corn into flour, pasta, biscuits and animal feed, and is the only miller with plants in all three of Mozambique's main port regions of Beira, Maputo and Nacala. It also owns a grain terminal at Maputo port.
