Key Takeaways
- • Eos Capital's Euphrates Agriculture Fund completed a partial exit from its private equity investment in Kadila Poultry Farming, which it describes as the first partial exit by an agriculture-focused private equity fund in an unlisted enterprise.
- • The exit delivered an Internal Rate of Return (IRR) of 19% and a 1.4x return on invested capital, according to an official Eos Capital statement.
- • Euphrates financed Kadila from greenfield inception through full commercial operations, investing in 2024 when the project had yet to attract conventional financing.
- • Kadila has become an important contributor to local broiler supply, reducing Namibia's reliance on imported poultry, per Eos Capital.
- • Eos says the fund is Namibia's first agriculture private equity fund and that it will continue to hold a stake in Kadila's future growth.
Summary
Eos Capital, the GIPF-backed manager, has announced that its Euphrates Agriculture Fund has completed a partial exit from its investment in Kadila Poultry Farming, a Namibian chicken producer. According to an official statement from Eos Capital, the transaction delivered an Internal Rate of Return of 19% and a 1.4x return on invested capital for the fund's stakeholders. Eos describes the deal as the first partial exit by an agriculture-focused private equity fund in an unlisted enterprise.
Euphrates first invested in Kadila in 2024 as part of Eos Capital's strategy to strengthen Namibia's food security and support import substitution, in line with the government's stated objective for the primary agriculture sector. Eos says the fund provided early-stage capital when the project had not yet attracted conventional financing, funding the production facilities needed to move the business from concept to operation. The firm financed Kadila from greenfield inception through to full commercial operations.
Eos states that Kadila has built a modern poultry production platform and is now an important contributor to local broiler supply, reducing Namibia's reliance on imported poultry. The company describes Euphrates as Namibia's first agriculture private equity fund, with a mandate to support national food security and invest in job-creating assets.
Eos Capital Managing Director Elzine Mushambi said that climate-related pressures on Namibia's food supply make local agricultural production "essential to our national resilience," and that Kadila demonstrates that resilience investment and commercial returns can coexist. Eos said it remains committed to disciplined capital deployment, active ownership and responsible exits, and that such exits recycle capital into the Namibian economy while supporting employment and food security. The figures and characterisations above are as reported in the company's statement; the release did not disclose the size of the stake sold or the transaction value.
Euphrates first invested in Kadila in 2024 as part of Eos Capital's strategy to strengthen Namibia's food security and support import substitution, in line with the government's stated objective for the primary agriculture sector. Eos says the fund provided early-stage capital when the project had not yet attracted conventional financing, funding the production facilities needed to move the business from concept to operation. The firm financed Kadila from greenfield inception through to full commercial operations.
Eos states that Kadila has built a modern poultry production platform and is now an important contributor to local broiler supply, reducing Namibia's reliance on imported poultry. The company describes Euphrates as Namibia's first agriculture private equity fund, with a mandate to support national food security and invest in job-creating assets.
Eos Capital Managing Director Elzine Mushambi said that climate-related pressures on Namibia's food supply make local agricultural production "essential to our national resilience," and that Kadila demonstrates that resilience investment and commercial returns can coexist. Eos said it remains committed to disciplined capital deployment, active ownership and responsible exits, and that such exits recycle capital into the Namibian economy while supporting employment and food security. The figures and characterisations above are as reported in the company's statement; the release did not disclose the size of the stake sold or the transaction value.
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