Amethis Finance has announced on the acquisition of a minority stake in the Afriwara group, the largest shareholder of the Société Nouvelle de Confiserie de Vridi (brand Waraba), a major agribusiness company based in Ivory Coast.

The details of the transaction have not been specified. But on its website, the private equity firm co-founded by Luc Rigouzzo, former general manager of Proparco (branch of the French Development Agency in charge of the private sector), indicates that its commitment is generally in the long term, for commitments in the range of $10m to $30m.

This is the thirteenth investment made by Amethis Finance as part of its first fund and it is expected that the resource it provides, helps support the regional expansion of the Afriware Group, through the realization of new acquisitions.

But it is also planned to expand the market of the New Company of Confectionery of Vridi.

Founded in 1973 in Ivory Coast, Afriwara is an investment target of choice for Amethis Finance. It is a group that claims a leadership position in its sector with significant growth opportunities in its market. 

Source: Cote d’Ivoire Economie