8 Miles makes Ugandan agribusiness investment
London, UK: 8 Miles LLP, the pan-African Private Equity firm, confirms that it has purchased a stake in Ugandan agribusiness Biyinzika Poultry International Ltd. (BPIL) for an undisclosed consideration.
BPIL was established in 1990 and is the Ugandan market leader in the sale of poultry Day-Old Chicks ('DOC') and specialised poultry feed, which is produced at its recently constructed feed mill and storage facility in Katega, Uganda. The company has 21 outlets around Uganda and produces approximately 500,000 DOC per week.
Doug Agble, Partner at 8 Miles, commented: "The current market is fragmented with a few niche players and the investment from 8 Miles provides the company with an opportunity to add scale and depth to its product offering."
8 Miles LLP is regulated by the UK Financial Conduct Authority and the Fund is only open to institutional and qualified investors.