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 Posted: Fri Dec 05, 2008 3:44 am Post subject: Actis Invests $49m in Egyptian Food Business |
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Actis Invests $49m in Egyptian Food Business
4th Dec. '08
Actis has completed a deal to invest $48.5 million in Mo'men Group for, an operator of chain of quick service restaurants under the brands 'Mo'men','Pizza King' and 'Planet Africa'. Actis's $48.5 million investment in Mo'men will help the group pursue expand its operations in Northern Africa and the Arabian Gulf region.
"Given the changing population demographics and the increasing wealth of the middle classes, the company has a clear opportunity to expand to meet this demand," said Sherif Elkholy, Actis investment principal in Cairo. Mo'men also a produces branded household frozen foods and ready meals under the label 'Three Chefs'. The business was founded by the Mo'men Family in 1988.
Source: Private Equity African News.
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