Private equity group Abraaj has bought a majority stake in Mouka, a Nigerian mattress manufacturer, and plans to expand the business further into the West African market, the firm said on Tuesday.
The acquisition is through one of Abraaj’s funds, in partnership with Moukarim Family, the founding family of Mouka who will retain a minority stake in the company.
No purchase price or a stake size was given. Mouka has 500 distributors for its mattresses in Nigeria.
The Abraaj Group is a private equity investing firm operating in the growth markets of Africa, Asia, Latin America, Middle East and Turkey.
They currently manage c. US$ 9 billion across regional, sector and country- specific Funds.
The Group has set the standard for private equity investing in growth markets, having realized US$ 5.1 billion from over 70 full and partial exits, and provided industry leading returns across companies that have emerged as today’s regional champions and tomorrow’s global challengers.
Funds managed by the Group have made over 140 investments across 10 sectors including consumer, energy, financials, healthcare and utilities.
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