8 Miles LLP, West Africa-focused African Capital Alliance Limited and DEG’s $80 Million equity investment in Beloxxi Industries Limited


Aluko & Oyebode acted as Nigerian counsel to a consortium consisting of Sub-Saharan Africa-focused 8 Miles LLP, West Africa-focused African Capital Alliance Limited and DEG, the German development finance institution in relation to its US$80 Million equity investment in Beloxxi Industries Limited, a biscuit manufacturing company in Nigeria.

8 Miles LLP is a private equity and venture capital firm specializing in growth capital investments and complex buyouts. The company, led by Robert Frederick Zenon Geldof, Mark Florman, Nathan Addo Mintah, Hemen Ratilal Shah and Doug Agble, is based in London.

African Capital Alliance is a private equity firm specializing in growth capital, equity, equity-related investments, and buyout investments in small and medium sized companies. The company, led by Cyril Akporuere Odu, Richard Lee Kramer, Pascal G. Dozie, Ernest Shonekan and Samuel Oniovosa is based in Lagos.

Deutsche Investitions- und Entwicklungsgesellschaft mbH is a private equity arm of KfW Bankengruppe specializing in direct and fund of funds investments. It seeks to invest in middle market and mature companies. The firm, led by Joachim H. J. Schumacher, Christoph Evard, Steffen Suhany, Cordula Rinsche and Amit Goyal, is based in Germany.

The investment would enable Beloxxi Industries Limited expand its operation and increase its production lines leading to a significant increase in its capacity. It is anticipated that the expansion would make the company the largest producer of cream crackers in Nigeria and Sub-Saharan Africa.

Aluko & Oyebode advises 8 Miles LLP, African Capital Alliance Limited and DEG with a team led by Ayodeji Oyetunde (Picture).

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