Abraaj Group acquires Fan Milk from Maj Invest

The takeover is expected to be completed before the end of November 2013.

The Emborg family are the majority shareholders in the company. Maj became a co-owner when it invested via its LD Equity 2 fund at the end of 2007, acquiring a 37% stake. Following the upcoming deal, Abraaj will become majority owners. 

The Emborg family and Maj have been considering a sale of the company for some time, due to a mutual aim to let new owners develop the company further.

Company
Erik Emborg founded Fan Milk in 1960 and established the brand in Ghana, Nigeria, Togo, Benin and Burkina Faso. The products include frozen dairy products and juice.

The group, which consists of Fan Milk and Emidan, reported revenues of DKK 880m in 2012 and employs 1,200 people. Today Fan Milk runs local dairies in Ghana, Nigeria, Ivory Coast and Togo.

People
Preben Sunke is the chairman of Fan Milk International's board of directors.

Advisers
Vendor – FIH Partners (Corporate finance).

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