PROJECT

Projects

Summary of Proposed Investment

Project Number

29867

Company Name

FOOD CONCEPTS PLC

Date SPI Disclosed

Apr 15, 2011

Country

Nigeria

Industry

Agribusiness and Forestry

Projected Board Date

May 16, 2011

Status

Completed

Sector

Other Food

Department

Regional Industry - MAS Africa

Environmental Category

B - Limited

Previous Events

Approved : Jun 21, 2011
Signed : Jun 27, 2011
Invested : Dec 27, 2011

Project Description

Food Concepts (“FC” or the “Company”) is a leading Quick Service Restaurants (QSR) and bakery operator based in Nigeria. QSR is branded as “Chicken Republic” with 60 outlets in Nigeria, 9 of which are franchised, and three in Accra, Ghana. FC also operates 10 bakeries, branded as “Butterfield”. The IFC investment would support capital expenditures and working capital over a 4 year period to develop approximately 40 additional QSR outlets; expand bakery capacity by approximately 100%, and make a further investment into poultry backward integration in Nigeria (the “Project”).

Sponsor / Cost / Location

Development Impact