Agritech startup Farmcrowdy, has announced the acquisition of Best Foods L&P Limited, one of Nigerias largest meat processors. The transaction includes Best Foods assets, a team, and customer contracts to supply meat across the country. The acquisition enables Farmcrowdy to offer a broader livestock production and processing solution to Nigerias meat market. As per government estimates, around 360,000 tonnes of beef is consumed each year in the country.
The prominent deals and contracts by Farmcrowdy are mentioned below:
- July 2019: Farmcrowdy had announced the merger of its portfolio companies-Farmgate Africa & Agricsquare to create a bigger and stronger company in the country.
- November 2019: FarmCrowdy, has been selected among ten startups for business partnership by the Dubai Chamber of Commerce and Industry. The company focused on providing major processors and international buyers the opportunity to buy commodities directly from farm clusters through technology.
- April 2019: Farmcrowdy Group, announced a new subsidiary, Farmgate Africa, a technology-driven agro-trading market place for agriculture commodities in Africa.
Farmcrowdy is Nigerias First Digital Agriculture Platform to empowering small-holder farmers to increase domestic food production and security. The company was launched in 2016, and till now, it has empowered over 25,000 small-scale farmers across Nigeria. Farmcrowdy empowers rural farmers by providing them with farm inputs, improved seeds, training on modern farming techniques, and provides a market for the sale of their farm produce.