Danone, together with the Abraaj Group has invested $25m in Fan Milk (Ghana), adding three new production lines to its factory in Accra.

The investment will help Fan Milk’s local subsidiary to sustain the growing demand for dairy products in the regional West African market. 

This factory extension will also sustain the production of FanMaxx, a new creamy drinkable yogurt that will be available to Ghanaian consumers in June and is the first of its kind in West Africa. 

Wahid Hamid, Managing Partner at The Abraaj Group, said: “We remain committed to accelerating the growth and penetration of Fan Milk’s portfolio of leading consumer food brands across West Africa.” 

“This new investment, in partnership with Danone, will further propel Fan Milk’s production capacity and ensure it is able to meet ever growing consumer demand for its high quality and nutritious products,” he said.

Fan Milk is one of the oldest brands in Ghana. 

It was founded in 1962 and enjoys outstanding brand recognition in its market. 

It is a household brand with the highest market share for frozen dairy products in Ghana, its home market. 

It operates in Côte d’Ivoire, Ghana, Burkina Faso, Togo, Benin and Nigeria, which together gather more than 250 million potential consumers. 

Danone and Abraaj jointly invested in Fan Milk in 2013. 

Danone became a majority shareholder in Fan Milk in 2016.

Pierre-André Térisse, Executive Vice President Access, Africa at Danone and Non-Executive Chairman of Fan Milk International, said: Fan Milk’s growth has been strong for the past few years and we believe there is potential for dramatically expanding its footprint by exploring yet untapped sources of growth, including the drinkable yogurt category. We are today launching in Ghana, but this is only a first step towards West Africa.”

“This is the result of two years’ work, combining Abraaj’s intimate knowledge of West Africa and Danone’s leading expertise of the dairy category in a highly cooperative and fruitful collaboration,” he added.