Follow Us on Google Discover
- 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.
Keystone Bank seeks approval to sell 66.54% KBL Insurance stake
