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Fan Milk : appuyer le développement de la première entreprise laitière d’Afrique de l’Ouest
Proparco has participated in the takeover of Fan Milk, the leader in the manufacturing and distribution of dairy products in West Africa. This has stabilized the shareholder base and fostered the company’s development.
Client presentation
Fan Milk International was set up in 1960 and is the leading manufacturer and distributor of dairy products (ice cream, yoghurts) in West Africa. It has local manufacturing facilities and a unique distribution network with over 23,000 independent vendors. The group operates in Togo, Benin, Burkina Faso, Côte d'Ivoire, Nigeria, Ghana and Liberia, and employs 1,620 people.
Project description
Proparco has participated in the takeover of Fan Milk Group, alongside Danone Group and a consortium of investors led by the fund manager Abraaj. This takeover aims to stabilize Fan Milk’s shareholding structure and support its development for new markets and products.
Project impact
This operation will have significant benefits in terms of employment, transfers of know-how and structuring the agri-food industry. Fan Milk employs approximately 1,620 people and its distribution system provides incomes to over 23,000 agents and street vendors.
15/11/2013
Date of signature of the project
Multi-country Africa
Location
Financing tool
7 605 904 Euros
Amount of funding
Equity investment of USD 7.6m
Financing details
Ice Topco Limited S.A.
Client