Somdia sells its flour milling activities, Société le Grand Moulin du Cameroun (SGMC) and Société le Grand Moulin du Phare au Congo (SGPM) to the Cadyst Group

PRESS RELEASE

Douala, 16 October 2024

Somdia Continues to Pursue Strategic Objectives by Divesting its Retail Operations
flour mill in Cameroon and Congo to the Cadyst group

The Somdia Group announces today the sale of its wheat flour in Cameroon and Congo, in accordance with its strategic orientations. This decision is part of the evolution of the scope of Somdia’s activities, with a desire to refocus its operations on its agricultural and primary care businesses transformation in Africa.

At the end of a tender process, followed by in-depth discussions, an agreement was reached with the Cadyst Group, a Cameroonian industrial operator, for the takeover of the Société le Grand Moulin du Cameroun (SGMC) in Cameroon, and the Société le Grand Moulin du Phare (SGMP) in Congo. Already present in the flour milling sector in Cameroon through its subsidiary Cadyst Grain (Ex La Pasta SA), the Cadyst group offers an excellent capacity for integration and continuation within its current organization, of the activities thus acquired while guaranteeing them strong development prospects in
Central Africa. However, the completion of this transaction remains subject to the fulfilment of customary conditions precedent and the approval of the relevant regulatory authorities. According to Olivier Parent, CEO of Somdia, “We are making the strategic choice to adapt our scope of activities to align with our development objectives, with a clear vision and operational decisions that strengthen our expertise in agriculture and primary processing in Africa. For the flour milling business, joining a local player like Cadyst makes perfect sense, and this operation also highlights the quality of our teams and our facilities, which are recognized for their excellence and performance. » According to Célestin Tawamba, President of Cadyst Group, “In the light of the AfCFTA, this acquisition represents a unique opportunity to accelerate our pan-African development strategy through the integration of an industrial tool and high-quality human resources. We are honored by the recognition by the Somdia group of our industrial and commercial know-how, and our ability to guarantee the development of these 2 companies. As an African player, we will continue our commitment to local production to the highest international standards
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About Somdia
Somdia is a leading agro-industrial player in Africa, committed to the continent’s food sovereignty by producing in Africa, for Africa. Founded in 1947 by the Vilgrain family, the adventure began in Congo with the acquisition of an agricultural concession. Today, Somdia operates in 6 countries (Côte d’Ivoire, Chad, Cameroon, Gabon, Togo and Congo) with more than 9,000 employees, exclusively based in Africa. The group specialises in four production sectors: sugar (330,000 tonnes per year), wheat flour (344,000 tonnes), maize flour, as well as animal feed and livestock. Somdia also manages 10 key subsidiaries, such as SUCAF in Côte d’Ivoire and SOSUCAM in Cameroon, which play a critical role in local production chains . Somdia is also strongly involved in social and environmental development through its 8 foundations, working in entrepreneurship, sustainable development, health and education. Since 2022, Somdia has been integrated into the Castel Group, sharing a common vision of sustainable local production. As the group’s agro-industrial force, Somdia valorizes agricultural by-products through innovative projects such as the creation of distilleries in Africa for the production of drinking alcohol. Firmly anchored on the continent, Somdia contributes significantly to the local economy by ensuring the production of essential goods while supporting African agriculture with training and on-the-ground coaching.

About Cadyst
Cadyst is a major agri-food and industrial group in Central Africa, whose vision is to “feed and care for African populations for less than a dollar a day”. It was founded in 2002 by Célestin K Tawamba with the company La Pasta, a small unit of 25T/day for the manufacture of pasta and flour. Cadyst Group has over time become a leader in the production of flour (Cadyst Grain), pasta (Panzani Cameroon) and is a key player in the production of biscuits. It is also active in local distribution (Cadyst Retail) and in the field of Health (Cadyst Health Care). He has also recently started an activity in the feed mill and in the production of maize such as day-old chicks with Cadyst Farming. Today, the Cadyst group, which employs nearly 1300 people who operate 5 factories in Cameroon, including the newly built Kribi plant, and 10 logistics centers, pursues its ambition to contribute to the continent’s food sovereignty through rigorous management by giving an important place to local human resources within a coherent economic model to create local added value and a strong social responsibility.