The Abraaj Group Acquires 100 Percent Stake in African Frozen Dairy Business (Sub-Saharan Africa)

Source: The Abraaj Group

The Abraaj Group, an investor operating in the growth markets of Asia, Africa, Latin America and the Middle East, has agreed to acquire a 100 percent stake in Ghana-based Fan Milk International (FMI), a manufacturer and distributor of frozen dairy products and juices in West Africa. FMI intends to embark on further growth into new markets within Africa. Financial details of the transaction, which is expected to close by the end of November 2013, were not disclosed.