Ethos, Proparco support Ethiopian Turaco’s expansion plan with $22mln
The South African private equity firm Ethos and French Development Agency’s private sector arm -Proparco- announced an investment of $22 million to support the expansion plan of the Ethiopian retailer Turaco, which specializes in the manufacture and marketing of consumer products. Turaco is managed by 54 Capital PE Advisors.
This mezzanine financing transaction, which combines capital injections and loans, is being deployed by Proparco for the first time in Ethiopia. The beneficiary of this resource aims to expand its facilities to increase its production of edible oils and personal care products.
“We are looking forward to having institutional investors like Ethos and Proparco as partners in this next chapter of expanding our facilities, and we are also excited to have access to their resources and considerable experience to help us create world-class companies that can be Proud to be Ethiopian, upholding the standards of global best practice,” said Saad Aouad, Managing Director of 54 Capital PE Advisors.
Download GetFundedAfrica’s e-Guide to fundraising for start-up’s Here
Turaco’s subsidiaries in charge of the production of detergents, sunflower and soybean oils joined 54 Capital’s business portfolio in 2014 and 2015.
Turaco is a holding company managed by 54 Capital PE Advisors, which holds a portfolio of FMCG assets in Ethiopia. The business, manufactures and sells edible sunflower and soya oil under the brand name Tena, as well as soaps and detergents and personal care products, including laundry soaps and perfumed toilet soaps, under the brand names 555 and Aura.
Download a copy of GFA’s Guide To Fundraising For African Start-Ups
“GetFundedAfrica is a technology-based, business information platform operated by Afriscaper Research & Consulting Limited with a mission to reduce barriers to funding for African businesses. GFA matches investor ready, African & African-Diaspora owned companies with global investors, leveraging market research, industry data and news aggregation“
Check out our weekend Feature: GFA’s Business Journey: Pitching To Win
Are you an entrepreneur? Share your story with us and get featured on our platform send us an email firstname.lastname@example.org