Schulze Global Investments has completed its acquisition of a 45% stake in Ethiopia’s MB PLC in an undisclosed deal. The Ethiopian dairy processor which operates under the Family Milk brand, was founded in 2001 and produces and distributes milk and milk products to a number of customers in Addis Ababa including hotels, retail outlets, restaurants and cafes as well as Ethiopian Airlines and a number of government agencies.
Commenting on the transaction at an announcement ceremony held in the country’s capital, Greg Metro, the private equity investor’s Managing Director for Ethiopia was quoted as saying “Family Milk is among the fastest growing dairy processors in Ethiopia with a strong brand. We believe that through implementing international best practices in dairy processing and product development, supplementing management and technical expertise, and investing substantial growth capital, the Company is well-positioned to help transform the dairy sector in Ethiopia.”
Schulze Global raised the first dedicated Ethiopian private equity fund in 2013 and targets growth equity investments across a number on sectors, including food-processing, construction, pharmaceuticals, coffee, education and dairy.