Abraaj Group acquires Fanmilk
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.