Oct 24, 2013 Abraaj and Danone will now respectively acquire a 51% and 49% stake in Fan Milk International. Under the agreement, Danone will in the
In 2016, Danone became the majority shareholder in Fan Milk, which also operates in Nigeria, Ivory Coast, Ghana, Burkina Faso, Togo and Benin. It initially acquired 49 per cent of the company, in
Danone Partners With Abraaj In Fan Milk Acquisition World’s largest yoghurt maker, Danone has partnered with Dubai private equity firm Abraaj Group to buy Fan Milk International (FMI), a frozen dairy products and juices maker in West Africa with sales of around $26.3 million in 2012. France’s Danone and Abraaj Group, a private equity firm announced on Thursday a partnership agreement that allows Danone to own stake in Fan Milk International, which previously was 100 percent acquired by the Abraaj group earlier this year. Danone increased its stake in Fan Milk International to 100% after transaction on July 30, the dairy product manufacturer’s Accra-based unit says in statement emailed by Ghana Stock Exchange. * Zahi El Khatib resigns as non-executive director of Fan Milk Ghana. Danone has highlighted investors’ increasing appetite for Africa’s consumer brands with the acquisition of a 49 per cent stake in Fan Milk International, west Africa’s largest maker of Danone, together with The Abraaj Group, a leading investor in growth markets, has added three new production lines to its factory in Accra, Ghana.
The investment will help Fan Milk’s local subsidiary to sustain the growing demand for dairy products in the regional West African market. In 2016, Danone (Global Dairy Manufacturer) partnered with Abraaj (a Private equity firm) to acquire majority stake in FanMilk. In 2019, Danone secured Abraaj’s stake in FanMilk becoming the sole majority shareholder of FanMilk. Danone, together with The Abraaj Group, a leading investor in growth markets, has added three new production lines to its factory in Accra, Ghana. The total investment of USD $25 million will help Fan Milk Ltd, its local subsidiary, to sustain the growing demand for dairy products in the regional West African market.
Danone et la société d'investissement Abraaj se sont associés pour l'acquisition de Fan Milk International, un acteur majeur des produits laitiers en Afrique de l'Ouest.
“We look forward to partnering with Danone in order to accelerate the growth and penetration of Fan Milk’s portfolio of leading consumer food brands across West Africa,” said Arif Naqvi, the founder and CEO of The Abraaj Group. Today, Fan Milk Limited has a veritable success story to boast of.
NEW YORK - Oct 24/13 - SNS -- Danone and The Abraaj Group have partnered to buy Fan Milk International, a manufacturer and distributor of frozen dairy
FMI is a dairy and fruit juice distribution company with a major distribution network across six West African countries (Ghana, Nigeria, Togo, Burkina Faso, Benin and Côte d’Ivoire). Abraaj is expected to give up control of its 51% stake of Fan Milk to Danone. With 60% of Danone’s €20 billion turnover (2012) generated outside Europe, Africa has become one of the French giant’s priorities in terms of development. The investment will allow Fan Milk ‘to sustain growing demand for dairy products’ in West Africa, Danone said. It is being made together with The Abraaj Group – the Dubai-based private equity investor that has owned a 51% stake in Fan Milk since the two companies’ joint buyout in 2013. In 2012 the world’s largest yoghurt maker, Danone, partnered with Dubai private equity firm Abraaj Group to acquire majority stockholding in Fan Milk International.
Stéphane Couste, Managing Director of Fan Milk Ghana said, "The new FanMaxx is a product of Fan Milk, which has been a trusted brand in Ghana for 55 years.
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Danone is already present in North and South Africa, and we will now be able to develop the dairy product market in West Africa”. The Abraaj Group had previously announced its agreement to acquire 100% of Fan Milk through one of its Funds in June 2013. Abraaj and Danone will now respectively acquire a 51% and 49% stake in Fan Milk International. Abraaj and Danone will now respectively acquire a 51% and 49% stake in Fan Milk International.
Fan Milk was bought out by Abraaj Group on Jun 19, 2013 . Transaction Name.
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Abraaj originally agreed in June 2013 to acquire a 100% stake of Fan Milk, but cut Danone into the deal in exchange for the company's fresh dairy category knowledge. “We look forward to partnering with Danone in order to accelerate the growth and penetration of Fan Milk’s portfolio of leading consumer food brands across West Africa,” said Arif Naqvi, the founder and CEO of The Abraaj Group.
5 days ago In June 2013, private equity firm The Abraaj Group of Dubai acquired Fan Milk International. FML • 1.09 ▫ 0.00.
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Danone förvärvade Unimilk-koncernens företag i Ryssland 2010 och Danone med Abraaj Group för att förvärva FanMilk International, den
FanMaxx offre une expérience de yaourt innovant, sain et nourrissant, particulièrement Danone is joining The Abraaj Group in the acquisition of Fan Milk International, a leading dairy products player in West Africa. Danone and The Abraaj Group (“Abraaj”), an investor operating in growth markets, has announced a partnership agreement whereby Danone will join Abraaj in the acquisition of Fan Milk International (“Fan Milk”). With 2012 sales […] 2013-10-24 · The Abraaj Group will initially retain 51 percent of Fan Milk, whose 2012 sales rose 16 percent to around 120 million euros. Under the deal Danone will in coming years gradually buy a controlling Avec Fan Milk, Danone veut donc s’engager dans la même voie. Et contrairement à Abraaj, qui a vocation à sortir du capital d’ici à quelques années, le géant s’installe sur le long terme. Since 2013, Danone has accelerated its development on the African continent, notably with the acquisition of a controlling interest in Centrale Danone in Morocco and equity interests in Fan Milk in West Africa and Brookside in Kenya.
French dairy producer Danone is continuing its push into Africa with a $25m investment, together with private equity firm Abraaj Group, in west Africa-based Fan Milk, the companies said on Tuesday.
The investment will help Fan Milk’s local subsidiary to sustain the growing demand for dairy products in the regional West African market. In 2016, Danone (Global Dairy Manufacturer) partnered with Abraaj (a Private equity firm) to acquire majority stake in FanMilk. In 2019, Danone secured Abraaj’s stake in FanMilk becoming the sole majority shareholder of FanMilk.
Under the agreement, Danone will in the coming years gradually acquire a controlling stake in the Danone is already present in North and South Africa, and we will now be able to develop the dairy product market in West Africa”. The Abraaj Group had previously announced its agreement to acquire 100% of Fan Milk through one of its Funds in June 2013. Abraaj and Danone will now respectively acquire a 51% and 49% stake in Fan Milk International. Danone, together with the Abraaj Group has invested $25m in Fan Milk (Ghana), adding three new production lines to its factory in Accra.