Nigerian beverage company AJEast raises $ 50 million


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Duet, a UK-based private equity firm, has acquired a majority stake in AJEast Nigeria, a Nigerian beverage manufacturer.

AJEast opened a manufacturing plant outside Lagos in 2015. The bottling plant manufactures brands, including Big Cola, Big Orange and Big Lemon, aimed at younger middle-income people.

A giant electronic advertising screen presents information on Muhammadu Buhari, President of Nigeria, to pedestrians in Lagos, Nigeria on Wednesday, July 26, 2017. The Nigerian economy, which experienced in 2016 its first annual recession since 1987 , will likely return growth in 2017. Photographer: Tom Saater / Bloomberg

The transaction, which amounts to more than 50 million US dollars according to a press release published by Duet, will allow AJEast to expand in its existing markets and expand its activities in neighboring African countries. In his press release, Duet said he was confident that the growth of the beverage space in Africa will grow significantly as incomes grow across the continent.

"While the number of Nigerian households in Nigeria and in some markets of West Africa continues to grow and as more and more consumers enter the formal economy because of the lack of food and drink. "Urbanization, demand for products such as BIG Cola will increase exponentially," Henry Gabay, DSI of Duet Private Equity Limited and co-founder of Duet Group, said.

AJEast is the African subsidiary of AJE Group, a multinational company that manufactures, distributes and sells alcoholic and non-alcoholic beverages. The company, headquartered in Lima, Peru, and Madrid, Spain, is controlled by the A & ntilde d'Ayacucho family in Peru. & Nbsp; She is known for her flagship products, Kola Real and Big Cola.

Contact me at the address mfon.nsehe @ gmail. com

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Duet, a UK-based private equity firm, has acquired a majority stake in AJEast Nigeria, a Nigerian beverage manufacturer.

AJEast opened a manufacturing plant outside Lagos in 2015. The bottling plant manufactures brands, including Big Cola, Big Orange and Big Lemon, aimed at younger middle-income people.

A giant electronic advertising screen presents information on Muhammadu Buhari, President of Nigeria, to pedestrians in Lagos, Nigeria on Wednesday, July 26, 2017. The Nigerian economy, which experienced in 2016 its first annual recession since 1987 , will likely return growth in 2017. Photographer: Tom Saater / Bloomberg

The transaction, which amounts to more than 50 million US dollars according to a press release published by Duet, will allow AJEast to expand in its existing markets and expand its activities in neighboring African countries. In his press release, Duet said he was confident that the growth of the beverage space in Africa will grow significantly as incomes grow across the continent.

"While the number of Nigerian households in Nigeria and in some markets of West Africa continues to grow and as more and more consumers enter the formal economy because of the lack of food and drink. "Urbanization, demand for products such as BIG Cola will increase exponentially," Henry Gabay, DSI of Duet Private Equity Limited and co-founder of Duet Group, said.

AJEast is the African subsidiary of AJE Group, a multinational company that manufactures, distributes and sells alcoholic and non-alcoholic beverages. The company, headquartered in Lima, Peru, and Madrid, Spain, is controlled by the Añaños family in Ayacucho, Peru. He is known for his flagship products Kola Real and Big Cola.

Contact me at the address mfon.nsehe @ gmail. com