Tuesday, January 19, 2016
The Abraaj Group said on Monday it has acquired a 49 per cent stake in JM Holding, the company that holds a majority share in Tunisian Stock Exchang listed SAH.
In Tunisia, SAH is the biggest player in the baby diapers segment with a market share of 60 per cent, and currently exports to 18 countries across Africa.
Abraaj and SAH are partnering to consolidate the company’s market position and expand its footprint across sub-Saharan Africa by enhancing its distribution models, improving production efficiency and focusing on product innovation. With Abraaj’s support, the company plans to build manufacturing plants in Western Africa to facilitate its growth, Abraaj said in a statement.
“We look forward to leveraging our global network and experience in the consumer sector to support SAH in actively driving its growth agenda from both a strategic and operational capacity,” Adel Goucha, Managing Director at The Abraaj Group said.
Population growth has driven the demand for affordable, high quality household and personal care products in Africa and this upward trend is further boosted by higher disposable incomes and evolving consumer habits.
gulfnews.com
