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“Farm advances in local production of fresh juices, yoghurts” – The Guardian

Lucky Orioha of The Guardian wrote,

Worried by the deleterious effects of imported food products laden with preservatives, pesticides and other toxic materials, a local farm has advanced in the production of farm-fresh fruit juices and yoghurts.

Niyya Food and Drinks Company Limited (NFDCL), a subsidiary of Niyya-Farm Group Limited (NFGL), and manufacturers of Farm Pride Natural Juices and Farm Pride Yoghurt said the homegrown products are source of active energy for all.

Read full article on The Guardian

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“Niyya Foods rebrands Farm Pride Yoghurt, Juice to win Nigerian market” – Business Day

Business Day writes,

Niyya Food & Drinks Company Limited (NFDCL) is re-branding its flagship Farm Pride Natural Juices and Yoghurt, with a view to strategically positioning the premium drink products in the Nigerian market.

According to Rajiv Joshi, CEO of Niyya Food &Drinks Niyya Food & Drinks, a subsidiary of Niyya-Farm Group Limited (NFGL), the firm is committed to satisfying the expectations of stakeholders by delivering products of consistent quality in compliance with the appropriate local and international standards.

Read full article on Business Day

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“Niyya Foods & Drinks redefines Nigeria’s beverage industry” – Business Day

Business Day writes;

Nigeria’s economy is facing severe challenges resulting from overdependence on oil and neglect of the real sector. This challenge has prompted governments at the federal and state levels to take diversification more seriously. In an era of economic diversification, companies that make meaningful contributions deserve a pat on the back by both the government and private sector…”

Read full article on Business Day.

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Verod Capital Invests in Niyya

Nigerian investment firm, Verod Capital has bought a stake in Nigeria-based consumer food production company Niyya Food and Drinks.

We will be using the capital to fund expansion, which includes increasing primary and secondary production capacities. The company plans to increase the automated processing of fruits and dairy products into fruit juice and yoghurt.

Niyya will also be expanding the volume of fruits grown on its farms, including mangoes, guavas, oranges and pineapples.

Niyya is the fund manager’s second investment from Verod Capital’s Growth Fund II. The fund is targeting $100 million at final close.

Verod’s portfolio companies include South Africa-based upstream oil and gas exploration company Sacoil, a 2013 investment.

Prior to that, Verod had exited Nigeria’s GZI Industries, an aluminium can manufacturer.

The investor has also previously bought stakes in manufacturing company Rotoprint and media company Spinlet – both based in Nigeria. Verod had backed both companies in 2011.

Verod invests between $3m and $15m per deal, holding the assets for between 4 to 7 years. The private equity investor targets an IRR of 35% per deal.