- Companies
- Promasidor
Promasidor Revenue, Valuation, Funding & Investors
Promasidor is valued at $1.6B as of November 2016, a 2.4x multiple on its last reported $673M revenue.
Last Promasidor valuation
$1.6B
Secondary · Nov 2016
Promasidor revenue
$673M
Secondary · Nov 2016
Key investors in Promasidor
About Promasidor
Promasidor is a Lagos, Nigeria-headquartered manufacturer of consumer food products distributed in 30 African countries. The company produces Onga seasoning cubes, Cowbell powdered milk, and Top Tea beverages, holding 40% market share in Nigeria's stock cube segment. Promasidor operates factories in Angola, DRC, and Ghana, sourcing local grains for Amila cereals. Founded in 1979, it employs 7,000 people and partners with Unilever for distribution networks.
Founded
1981
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Revenue
$673M (Nov 2016)
Valuation
$1.6B (Nov 2016)
Sectors
Promasidor Valuation
Promasidor is currently valued at $1.6B, based on its secondary sale in November 2016.
The $532M round was led by Ajinomoto.
Promasidor valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Nov 2016 | Secondary | $1.6B | 2.4x |
Promasidor Revenue
Promasidor's latest recorded revenue is $673M, as of its secondary sale in November 2016. At a $1.6B valuation, that implies a 2.4x revenue multiple.
Promasidor revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Nov 2016 | $673M | $1.6B | 2.4x | Secondary |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Promasidor Funding History
Promasidor has 1 recorded secondary share sale and no primary funding rounds.
Promasidor funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2016 | Secondary | Ajinomoto (lead) | $532M | $1.6B | Promasidor is a South Africa-based consumer goods company founded in 1979, specializing in powdered milk, drinks, dairy products, cereals, and seasonings, with operations in over 30 African countries including Nigeria, Algeria, Ghana, Democratic Republic of Congo, and Angola. The company employs around 4,000 people and leverages an extensive distribution network across 36 countries on the continent. On November 8, 2016, Japanese food giant Ajinomoto acquired a 33.3% stake in Promasidor (South Africa) Pty Ltd from PLEXUS Investments Ltd (8.33%) and Tana Promasidor Holdings Limited (25%) for approximately $530-532 million. The transaction valued the entire firm at $1.6 billion. Ajinomoto outbid competitors including PepsiCo in a competitive auction process advised by Nomura and KPMG. Promasidor recorded net sales of $673 million in 2015. The investment enables Ajinomoto to strengthen its presence in Africa's growing seasonings and processed foods market, driven by population growth from 1.2 billion in 2015 to a projected 1.7 billion in 2030 and an expanding middle class seeking convenient packaged foods. |
Who has invested in Promasidor?
1 investor has backed Promasidor across its funding rounds, including Ajinomoto.
Lead investors include Ajinomoto.
Promasidor Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Start Free TrialInvestments by Promasidor
Promasidor has invested in 1 company to date.
Latest investment by Promasidor was on August 9th 2021. Promasidor invested in Zowasel in their $100K Pre-seed round.
Latest Investments by Promasidor
| Description | Zowasel is a Lagos-based agrotech company applying data science to enhance farmer productivity and supply chain transparency across Nigeria and West Africa. The platform delivers real-time market prices, offline-accessible tools, and traceability for crops from farm to buyer. Zowasel connects growers to online and offline markets, promoting sustainability in value chains for staples like maize and cassava. |
| HQ Country | |
| HQ City | New York City, NY |
| Deal Date | 9 Aug 2021 |
| Round | Pre-seed |
| Raised | $100K |
| Investors | Guinness Nigeria |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Promasidor investments and their VC round multiples. Start Free Trial | |
Promasidor Competitors
Promasidor competitors include listed companies like Honasa Consumer, Cloetta, Spadel and Carabao Group, and private ones like Shuyishao Xiancao and Picnic.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.6B | - | ||
| Publicly listed | $249M | $33M | $1.6B | 5.6x | ||
| Publicly listed | $870M | $137M | $1.6B | 1.8x | ||
| Publicly listed | $460M | $100M | $1.6B | - | ||
| Publicly listed | $662M | $117M | $1.7B | 2.3x | ||
| Private | - | - | $1.5B | - |
Promasidor Public Comps
Promasidor is still privately-owned, but its public comps include Honasa Consumer, Cloetta, Spadel, Carabao Group, LT Foods, Kernel Holding, Yankershop Food Co, AVI, Nomad Foods and J&J Snack Foods.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $249M | $33M | 6.1x | 5.6x | 46.5x | 50.4x | |||
| $870M | $137M | 1.9x | 1.8x | 12.2x | 11.6x | |||
| $460M | $100M | 3.2x | - | 14.5x | - | |||
| $662M | $117M | 2.5x | 2.3x | 14.2x | 12.3x | |||
| $1.1B | $126M | 1.5x | 1.3x | 13.2x | 12.0x | |||
| $4.1B | $433M | 0.4x | 0.4x | 3.5x | 3.8x | |||
| $859M | $164M | 2.1x | 2.0x | 11.1x | 10.3x | |||
| $999M | $229M | 1.8x | 1.8x | 7.8x | 6.6x | |||
This data is available for Pro users. Sign up to see all Promasidor competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Promasidor
| When was Promasidor founded? | Promasidor was founded in 1981. |
| Where is Promasidor headquartered? | Promasidor is headquartered in Johannesburg, South Africa. |
| Is Promasidor publicly listed? | No, Promasidor is a private, VC-backed company. |
| What is Promasidor's valuation? | Promasidor was last valued at $1.6B in its secondary sale in November 2016. |
| Who are Promasidor's investors? | Promasidor's investors include Ajinomoto. |
| What is Promasidor's revenue? | Promasidor's latest recorded revenue is $673M (November 2016). |
| What is Promasidor's revenue multiple? | Promasidor's latest valuation implies a 2.4x revenue multiple ($1.6B valuation on $673M of revenue). |
| Which companies are comparable to Promasidor? | Companies comparable to Promasidor include Shuyishao Xiancao, Honasa Consumer, Cloetta, Spadel, Carabao Group and Picnic. |
| How many companies has Promasidor invested in? | Promasidor has invested in 1 company, including Zowasel. |
| What was Promasidor's last investment? | In August 2021, Promasidor invested in Zowasel's $100K pre-seed round alongside Guinness Nigeria. |
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