Pulses supplier Maviga, based in Yalding, bought by global commodities trader ED&F Man

A global commodities trader is to buy a $300 million turnover pulses supplier in Kent with trading offices in 12 countries.

ED&F Man, which distributes agricultural products like coffee and sugar around the world, is taking control of Yalding-based Maviga for an undisclosed sum.

The deal is likely to result in a huge payday for privately-owned Maviga’s nine shareholders, particularly chief executive Marcus Coles, who owns 51% of the firm.

Maviga is a trader of pulses and dried crops across the globe
Maviga is a trader of pulses and dried crops across the globe

He founded the company in 1994, which featured in the MegaGrowth 50 list of Kent’s fastest-growing companies in 2013 and entered the The Sunday Times’ Top Track 250 in 2015 with pre-tax profits up 62% to $8 million.

It originates, processes and ships about 250,000 tons of bagged or bulk containerised products from more than 25 locations to clients in over 65 markets around the world.

Its takeover signals a new focus on the growing market for dried edible pulses and crops like sesame seeds for ED&F Man, which was founded in 1783 and employs about 7,000 people in over 60 countries.

ED&F Man chief executive Philip Howell said: “This is a strategic acquisition in a dynamic sector, of a highly-regarded company with an accomplished leadership team.

Maviga appeared in the KM Group's MegaGrowth 50 list in 2013
Maviga appeared in the KM Group's MegaGrowth 50 list in 2013

“The global market for edible pulses is growing rapidly – it is estimated that the world’s population will be 9 billion by 2050.

“This will place an even greater reliance on leguminous protein.”

Maviga chief executive Mr Coles said: “This is about the perpetuity of our business, something that ED&F Man, with its 230-year heritage understands.

“ED&F Man has a strong entrepreneurial culture and will be able to provide Maviga with investment capital for both continued organic growth and acquisitions.”

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