HOUSTON, TEXAS & LIVINGSTONE, ZAMBIA- Africap LLC, an FCA Corp affiliate, announced its investment into Victoria Brands (“Victoria Brands”, or the “Company”), a Livingstone, Zambia-based manufacturer of white-label food items.
Victoria Brands Ltd flagship brand, Victoria 1855, is named after the majestic Victoria Falls which were first shown to David Livingstone in 1855 by the Batoka people. The company’s fresh and original products are crafted less than two kilometers from the mist that is the “Smoke that Thunders”. As a Company, Victoria Brands will aim to be the largest non-hospitality private employer in Livingstone at full production, employing over 110 full time workers. In addition, at full capacity its local sourcing program will support an anticipated 600+ smallholder farmers providing a range of products from onions, tomatoes, garlic, and chilies.
Initial production runs were concluded Q4 2020 with a harvest purchased from over 100 members of a local women-owned farming co-operative. The purchase contract with the co-op allowed it to secure financing and technical support from Oxfam, one of the largest UK-based NGOs. With a focus on localized production of the full value chain, Victoria Brands will retain more income in the local economy in Livingstone and the surrounding Southern African Development Community (SADC) zone.
Garrett Gish, Director at FCA Corp, stated, “Our decision to invest into the Zambian manufacturing sector demonstrates our continued strong conviction in the positive long-term African macroeconomic trends. This investment is designed to achieve compelling returns for our investors and generate a positive impact on the local Zambian economy and SADC region, in particular the manufacturing and agricultural sectors. It will also continue to diversify our industry and country exposure within the African continent.”
Killen & Dennis served as legal counsel to FCA Corp.
About Victoria Brands
Victoria Brands, Ltd., based in Livingstone, Zambia, and its flagship brand, Victoria 1855, is a leading manufacturer of processed, branded and white-labeled food items, including sauces, jams and condiments. Victoria aims to distribute throughout the southern and central Africa region.
About FCA Corp
FCA Corp is a leading global investment management and financial advisory firm, delivering differentiated long-term performance on behalf of clients around the world. FCA Corp manages Africap LLC, a leading African private equity fund established in 1999 for the primary purpose of capital appreciation through growth equity investments in small and midsize enterprises in the African market. Africap LLC focuses on Impact Investment across a range of industries including natural gas production, healthcare, insurance, QSR’s, hotels, mining, logistics, real estate, and technology where financial performance and societal impact are intrinsically aligned.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “aims”, “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance.
