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Tuesday, 28 March 2017

Geldof invests in African fruit firm with eyes on fresh juice operations in Egypt

Irish rock star Bob Geldof’s 8 Miles private equity fund announced it acquired a minority stake in UK-incorporated Blue Skies, a fresh-cut tropical fruit producer with operations in several African countries, according to Reuters. Blue Skies has “plans to expand its core fresh-cut fruit business, increase production capacity in South Africa, launch a fresh juice operation in Egypt and develop new product lines for some of its markets in Africa.” The company’s portfolio includes Ethiopian wine producer Awash Wines, Ethiopian feedlot operator Verde Beef Processing, Uganda’s Biyinzika Poultry and Nigerian biscuit-maker Beloxxi Industries, the newswire reports.

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