Emerging-Markets Private Equity Group, the Abraaj Group is set to acquire a 100 percent stake in Fanmilk International, the leading manufacturer and distributor of frozen dairy products and juices in West Africa. The deal is expected to close by November.
This implies Abraaj would also take majority stake in FanMilik Ghana Limited. Apart from Ghana, Fan Milk Interntaional currently also operates in Nigeria, Togo, Ivory Coast, Benin and Burkina Faso.
Familk International which started as a family business more than 50 years ago currently sells over 1.8 million products daily across West Africa through its fully integrated regional manufacturing and distribution cold chain network.
The Abraaj Group is one of the largest and most active private equity investors in Africa having invested 2.2 billion dollars in sixty-nine partner companies.
According to a release, Abraaj is to work alongside the company's strong, locally experienced management team to reach FanMilk's existing market of over 250 million consumers and beyond.
Story by Ghana / Joy Business / Emmanuel Agyei
One dead, fire officer hospitalised after bee attack at Quarry Site in Sokode Gb...
Israel and Iran step back from further strikes after renewed clashes
Patients stranded as doctors, nurses refuse to see new patients over KATH CEO su...
Avenor Rural Bank CEO’s house destroyed by fire
Three arrested in Winneba for illegal mining near GWL water lines
Two pupils of Alice Elite Academy laid to rest after fatal school bus crash
Here are areas to be affected by ECG's planned maintenance on Tuesday
Family of civil engineer killed in alleged military shooting demands justice
SHS teacher allegedly beats female student over unpaid hostel fees
Blow to EU defence cooperation as France, Germany abandon joint fighter jet prog...
