Beta Glass Plc has announced that its major shareholder, Frigoglass Group, has signed an agreement to sell its stake in the company to Helios Investment Partners, an Africa-focused private equity firm.
The development was disclosed in a filing published on the Nigerian Exchange on December 9, 2025, detailing the divestment.
According to the filing, Frigoglass Group is selling its entire stake in Frigoinvest Nigeria Holdings B.V. for up to €100 million after three years spent repositioning and strengthening its glass operations in West Africa.
Frigoinvest Nigeria Holdings includes Beta Glass and Frigoglass Industries Nigeria Limited, covering the group’s glass container, plastic crate, and metal crown manufacturing businesses.
Beta Glass noted that the transaction is still subject to regulatory approvals and is expected to be completed by the first quarter of 2026.
The company added that it will work with the Group to support customers, suppliers, and partners during the transition, while also helping Helios Investment Partners navigate the necessary local approvals.
Comments on the deal
Gagik Apkarian, Founder and Managing Director of Tetrad Capital Partners and Chairman of the Frigoglass Group, described the sale as a major turning point for the company.
Speaking on the development, he said:
“This milestone is the result of nearly three years of intense work across all parts of the business, following the Group’s restructuring in 2023. Beta Glass has delivered record-breaking performance, strong margins, and remarkable growth opportunities, attracting interest from both domestic and international investors.”
He expressed confidence in the new owner, saying:
“We believe Helios Investment Partners, a leading Africa-focused private equity firm, will be an excellent steward of Beta Glass’ 50-year legacy of delivering outstanding products and services.”
Beta Glass CEO, Alex Gendis, also welcomed the new investors, assuring stakeholders of continuity:
“We are delighted to welcome Helios Investment Partners to Beta Glass. We want to reassure our customers, suppliers, partners, and colleagues that business will continue as usual throughout the transition.”
What you should know
Frigoglass Group is a leading producer of commercial coolers and high-quality glass packaging solutions.
- The Group serves some of the world’s top beverage brands and operates in the high-growth glass container markets of West and Central Africa.
In April 2023, the Group completed a successful recapitalization and restructuring.
- It is now primarily owned by private companies incorporated in England and Wales, with the remaining 15% held by Frigoglass S.A.I.C., which has its own board of directors
Beta Glass Plc, part of Frigoglass Group in Nigeria, is a top maker of glass packaging for the beverage, pharmaceutical, and food industries.
- Headquartered in Lagos, it also operates in nine other African countries, including Ghana, Côte d’Ivoire, Sierra Leone, Liberia, Cameroon, South Africa, and Burkina Faso.
