Agriculture Transaction Brief: BII raises equity stake in Valency International with $15M

Transaction Summary

British International Investment (BII) has committed an additional $15 million in equity to Valency International (Valency), a Singapore-based commodities trading company with operations in C?te d'Ivoire, Nigeria, Ghana, and Tanzania. Founded in 2007, Valency operates in 22 countries, specialising in agricultural commodities, agrochemicals, fertilisers, and industrial chemicals. This brings BII’s total investment to $30 million, following an initial $15 million injection in December 2023, with an option to invest a further $35 million within two years.? BII’s initial funding supported the expansion of Valency’s cashew processing and warehousing facilities in Nigeria. The new capital will finance a 45,000-tonne cashew processing facility in Attingue, C?te d'Ivoire, and a bioproducts plant to convert cashew shell waste into biochar and biofuels.?

Terms

• Fund Managers: British International Investment
• Target: Valency International Pte Ltd
• Financing Type: Equity
• Investment Strategy:?Growth Equity
• Financing Instrument: Ordinary shares
• Amount: $15 million

Transaction Rationale

British International Investment’s follow-on investment in Valency reaffirms confidence in its shift from agro-trading to a fully integrated food ingredients company. After backing Valency’s cashew processing expansion in Nigeria in 2023, BII is now supporting its replication in C?te d’Ivoire, which previously focused on raw cashew sourcing. Raising its equity stake signals BII’s conviction that Valency’s...

• Market Opportunity: C?te d'Ivoire, the world’s largest cashew producer, is accelerating efforts to expand its local processing capacity. In 2025, production is expected to grow by 20% to 1,150,000 tonnes, up from 944,673 tonnes in 2024. However, only about 10% of the country’s cashew harvest is...
• Risk/Return Analysis: Valency’s expansion into C?te d’Ivoire’s cashew processing market offers strong return potential, leveraging its experience in processing facilities in India, Vietnam, and Nigeria. Its existing supply network in C?te d’Ivoire provides a strategic edge, while its retail presence in...

The Stears Data Platform helps you analyse private capital in Africa by the fund manager, financial instrument, vertical, transaction type, and more. To learn more about similar transactions, join our mailing list