|DUET GROUP ANNOUNCES THE LARGEST PRIVATE EQUITY INVESTMENT IN ETHIOPIA TO-DATE: DASHEN|
|Friday, 27 January 2012 07:15|
Duet Group and Vasari announce the formation of a partnership with the TIRET Group, an Ethiopian endowment fund, in the brewery sector in what will become the largest private equity investment in Ethiopia to-date.
Bereket Simon, Board Chairman of the TIRET Group: "In the last eight years, Ethiopia has successfully enacted five year plans designed to foster a business environment in which businesses are able to successfully operate; Dashen's ability to attract, Duet Group and Vasari demonstrates this. This transaction marks only the beginning of Ethiopia's bright future in terms of attracting more FDIs".
Henry Gabay, Co-Founder and Co-Chairman, Duet Group: "The economic performance of Ethiopia over the last eight years has been nothing short of outstanding. We are very excited about consumer-driven businesses in the country. We have been very impressed by what has been achieved at Dashen. We believe Duet and Vasari will add tremendous value for the next growth phase of the Company. We are also proud of having the TIRET Group as a partner, with whom we will evaluate other opportunities in various sectors."
Vivian Imerman, Founder and Chairman of Vasari: "Dashen and Royal are strong brands, with huge potential. We are encouraged by what we know about
Vasari: Vasari, under the guidance of Vivian Imerman, has a long track record of growing and transforming businesses in a wide range of situations and environments. Vivian began by building corporations in South Africa, and later broadened his geographical focus to Europe, Asia and South America. Vivian's achievements include the transformation of Del Monte and Whyte & Mackay.
|Last Updated on Thursday, 13 December 2012 14:06|