Helios Investment Partners and the Egyptian-American Enterprise Fund have acquired 96.7% of Misr Hytech Seed International, one of the Middle East and Africa’s largest independent seed companies.
According to the press release, Misr Hytech Seed International provides farmers with high-performing seeds that are adapted to the Egyptian market through its Hytech brand.
The statement added that Misr Hytech has a strong portfolio of proprietary germplasm across key crops in Africa and the Middle East, which will be used to support the company’s expansion across the continent.
Founded in 1993, Misr Hytech develops and produces hybrid seeds of white corn, yellow corn, grain and fodder sorghum, sweet corn, and vegetables in Egypt
“We are very excited about the great potential of this investment in contributing to the betterment of the Egyptian agricultural landscape," James Harmon, the chairman of EAEF, was quoted as saying.
The company, with its strong base in Egypt, is uniquely positioned to establish itself as a leading seed company in the emerging seed markets of Africa, said Suri Sehgal, founder of Misr Hytech.