ULIMI Fund, a private equity fund managed by Old Mutual Investment Group Malawi, has made a significant investment in Gala Agriculture Company, a successful macadamia plantation in Malawi.

Gala Agriculture Company operates 12 farming estates spanning c. 6,000 ha in Malawi.

The company will use the equity investment to near double their macadamia plantations and production facilities over the next five years.

Old Mutual Investment Group Malawi is advised by UFF, a specialist agri-investor in Africa, combining commercial Agri- Investment and sustainability on the African continent to provide investors with a compelling risk/return profile.

Old Mutual Investment Group Malawi and UFF stated that they are very excited to have closed the equity investment in Gala.

Responsible commercial agribusiness is key to driving development in Malawi.

Gala has made considerable progress towards building a state-of-the-art export driven macadamia operation, which is already delivering significant social, environmental and community benefits. We look forward to helping Gala continue its expansion, supporting the business to operate to high sustainability standards.

George Tselingas, Founder and chairman of Gala Agriculture Company, said: “We are delighted to partner with Old Mutual Investment Group Malawi and UFF at this exciting point of growth for Gala and look forward to benefiting from their experience in Malawi and across Africa. We believe that Gala will become a pre-eminent macadamia producer in Africa with the potential for a globally recognized retail brand.”

Both Gala Agriculture Company and Old Mutual underpin their activities with the highest levels of environmental consciousness, deep social commitment to the people and country in which they operate, supported by a Board and Management Team that exercises international standards of governance.

Africa Merchant Capital (AMC) Advisory has advised the management team at Gala Agriculture Company on this investment.

Jan Louis van den Berg, who led the transaction for AMC Advisory, said: “We are proud to have assisted our client to secure hundreds of jobs for the further development of Gala to develop into a globally recognized macadamia estate. The partnership between Gala and Old Mutual Investment Group Malawi brings together a cohesive strategy for both organizations that target high-value crops, increased local employment, and supporting the export markets of African countries, particularly Malawi in the case of this investment.”

Africa Merchant Capital Advisory specialises in tailor-made corporate finance solutions to meet the unique needs of middle-market clients across multiple sectors in Sub-Sahara Africa.

AMC Advisory provides comprehensive services for both buy-side and sell-side clients, including the arranging of expansionary capital for transactions up to $100m.