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.

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.

“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.”