GB Foods Africa has acquired a concession of nearly 2,428 hectares in Afram Plains, in the eastern region of Ghana. The African subsidiary of the Spanish group is dedicated to the production and marketing of high-turnover consumer products related to cooking. The Ministry of Trade, Agro-industry and Industry announced the acquisition, indicating that the land will be used for industrial tomato cultivation in order to supply GB Foods Ghana, the group’s local subsidiary.
This investment represents one of the largest agricultural operations of GB Foods in West Africa. The company does not disclose the cost or operational details of the project. This initiative suggests that GB Foods aims to improve its raw material supply chain to boost tomato paste production in the country.
GB Foods operates a tomato processing plant in Tema since 2023. The facility, which cost 5 million dollars, allows the company to produce and market its flagship tomato concentrate brands ‘Gino’ and ‘Pomo’ in Ghana. Increasing tomato concentrate production would allow GB Foods to expand its market share in Ghana by gradually replacing imports.
Data collected by the FAO shows that Ghana imported an average of nearly 54,361 metric tons of tomato paste per year between 2020 and 2024. The cost associated with these purchases averaged 54.4 million dollars annually during the same period, peaking at 85.4 million dollars in 2024.
In 2021, Cuatrecasas advised Agrolimen, S.A. and The GB Foods, S.A. in the acquisition of 49% of the capital of GB Foods Africa BV and the dissolution of the joint venture with Helios Investment Partners. The GB Foods company, owner of Gallina Blanca and Avecrem, has taken full control of its business in Africa after reaching an agreement with the investment fund Helios Investment Partners. Aiming to continue growing in key markets such as Nigeria, Ghana, Algeria, and Senegal; it has acquired Helios’s stake in the JV they created in 2017 to operate in a continent where they have been working for over 30 years.
With this operation, it becomes the sole shareholder of the African subsidiary, which has a total of seven factories and sells its products in over 30 countries, demonstrating its long-term commitment to the continent. The history of GBfoods begins with the broth brand Gallina Blanca, created in Barcelona in 1937 by D. Lluis Carulla, marking the start of a long and exciting journey. GBfoods began its operations in Africa with the Jumbo brand in 1973 in Sierra Leone before expanding across Africa. Currently, the company markets several brands focusing on local flavors. With its Jumbo brand, GBFoods has created natural spice broths in powder, cube, and liquid forms, providing consumers with taste in all their dishes. It also offers Bama mayonnaise, based on lemon and soy; GBfoods provides the African population with products that have a creamy flavor and a smooth, refined texture for spreading or tasting with bread, salads, or at barbecues alone or with family.
