Grupo Dibaq Diproteg S.A. (DIBAQ), one of Spain’s largest and oldest privately-owned animal feed producers, and SOKOTRA Capital, a Dubai-based private investment company focusing on frontier markets, have signed an exclusive commercial and marketing agreement, formalising a broader strategic partnership between the two, to bolster distribution channels across Africa.
Under the agreement, SOKOTRA Capital has been appointed as the exclusive commercial and marketing agent for DIBAQ in certain countries such as Nigeria, Ghana, Tanzania, Zambia and Mozambique and will be responsible for promoting and marketing DIBAQ’s products in these territories. In addition, SOKOTRA Capital will work with DIBAQ as a non-exclusive agent for other countries falling outside of these territories.
SOKOTRA Capital, an investment firm that was established in Dubai in April 2014, extends the global reach of DIBAQ’s products into high growth frontier markets and leverages SOKOTRA Capital’s deep expertise in many of these countries.
The products covered under the agreement include DIBAQ’s full suite of animal feed products; namely fish feed, pet food, camel feed, horse feed and livestock feed lines.
Regarding the signing of the agreement, Carlos Tejedor, President of DIBAQ said: “Dibaq has grown considerably on a global scale over the past few years, with more than 50 percent of our total sales coming from more than 50 markets across four continents. Frontier markets, Africa in particular, represent a highly exciting next step for us as we take our leading animal feed products to high growth markets.
“After extensive due diligence, we have concluded that SOKOTRA Capital brings to us a deep expertise and connectivity in frontier markets as well as a shared philosophy and approach that I believe will help us create a strong, lasting and growing partnership.”
Albert Momdjian, Founder and CEO of SOKOTRA Capital added: “This first step in a broader strategic alliance is an extremely important milestone for SOKOTRA Capital. We have been working very closely with DIBAQ for more than 18 months now assessing the optimal way for both of us to leverage each other’s skills and capabilities.
“This is one of several agreements SOKOTRA Capital and DIBAQ are discussing in order to leverage DIBAQ’s unique capabilities and experience in the animal nutrition business and SOKOTRA Capital’s expertise and developed network of relationships across frontier markets.”
Momdjian concludes: “It is clear that the Tejedor family, through DIBAQ, is the best partner for us in the animal feed sector, not only because of the quality of their products, their capabilities and their unrivalled experience, but also because of their history, their reputation and their commitment to the development of a healthy animal food sector.”