Adenia, Proparco and DEG back the expansion of Parkville, Egypt’s leading cosmeceutical company

Proparco, alongside Adenia and Deutsche Investitions- und Entwicklungsgesellschaft (DEG), has signed an agreement to acquire a majority stake in Parkville, Egypt’s leading cosmeceutical company (products combining cosmetic and therapeutic benefits), to support its growth and strengthen local manufacturing. This transaction illustrates Proparco’s commitment to fostering a sustainable, resilient and more sovereign African economy, while improving access to affordable, high-quality health and personal care products.

The investor consortium, led by Adenia as lead shareholder, has entered into a definitive agreement with Admaius Capital Partners and the founders (Dr. Mahmoud Farrag and Dr. Sherif Bassiouny) to acquire a controlling stake in Parkville Pharmaceuticals. As part of the transaction, Admaius Capital Partners will sell its entire stake, while the two founders will remain shareholders.

For Proparco, this investment reflects a long-term partnership approach with leading pan-African funds and European development finance institutions to support the emergence and growth of high-impact local champions.

Parkville, a fast-growing Egyptian industrial player

Founded in 2008 and headquartered in Cairo, Parkville Pharmaceuticals specializes in the development, manufacturing and distribution of a wide range of innovative dermo-cosmetic products (skin and hair care, deodorants), dietary supplements and muscle relaxants. The company has built a portfolio of strong brands (Starville, Strongville, Bobai, Glamy Lab, Shaan, Seropipe, Sulfax, etc.), widely recognized in Egypt, and has established leading positions across several key therapeutic areas. It offers innovative, high-quality products at competitive price points compared to international brands, supported by an extensive specialized distribution network.

Since 2023, Parkville Pharmaceuticals has operated its own production facility in Alexandria and currently exports to several markets across the region.

Adenia, catalyst for a new phase of growth

With this majority investment — its first in Egypt — Adenia reaffirms its pan-African ambition and its strong conviction in the potential of local champions capable of competing with international players.

By partnering with the founders and an experienced management team, Adenia aims to support Parkville Pharmaceuticals in a new phase of development, focused on expanding its product portfolio, strengthening its industrial and digital capabilities, and accelerating regional expansion.

An investment aligned with Proparco’s 2023–2027 strategy

This investment is fully aligned with Proparco’s strategy to support private sector players contributing to structural economic transformation, the strengthening of local value chains, and improved access to essential goods and services. The transaction is underpinned by two major impact drivers:

• Import substitution and strengthening of the local industrial base: by developing high-quality local production of cosmeceuticals, Parkville Pharmaceuticals is helping reduce Egypt’s reliance on imports and reinforce a competitive national manufacturing base.
• Improved access to affordable health and personal care products: through a mid-range pricing strategy and extensive distribution network (pharmacies and para-pharmacies, hospitals, and e-commerce), Parkville Pharmaceuticals facilitates access to safe and effective products that are widely recommended by healthcare professionals.

Tibor Asboth, Head of Private Equity Africa and Middle East at Proparco, said:
“Parkville embodies Egypt’s industrial dynamism and the ability of local champions to establish strong positions in their domestic markets. By partnering with Adenia and DEG, we are supporting a high-performing, innovative company deeply rooted in its local ecosystem. This investment makes a tangible contribution to strengthening local manufacturing, reducing reliance on imports, improving access to quality health and personal care products, and supporting Africa’s industrial and economic sovereignty. It is fully aligned with our strategy to promote a sustainable and resilient economy.”