Another scoop for the incredibly diverse portfolio of Abu Dhabi investment firm International Holding Company (IHC), which just bought a majority stake (60%) of Royal Horizon. Royal Horizon is a privately-held supplier of soft commodities to both the private sector and the government in the UAE. The deal, which was worth around $21m, was completed through IHC’s subsidiary Zee Stores (ZS), which trades food and non-food products.

IHC has been on a shopping spree for a while now, having recently invested in other major companies such as Falcon CI IV LP, a fund that owns a stake in SpaceX (and whose name is almost harder to pronounce than that of Elon Musk’s own child).