Danone is joining private equity firm the Abraaj Group in a previously announced acquisition of Fan Milk International.
Accra, Ghana-based Fan Milk International manufactures and distributes frozen dairy products and juices in west Africa. The company operates in Ghana, Nigeria, Togo, Burkina Faso, Benin and the Ivory Coast. Terms of the deal were not disclosed.
Danone, headquartered in Paris, focuses on food businesses, including fresh dairy products, water, baby nutrition and medical nutrition.
London-based Abraaj announced in June that it was buying Fan Milk International. The firm is the largest investor in the middle east, and focuses on investments in emerging markets. Abraaj’s recent transactions include the acquisition of a majority stake in Ghana Home Loans, and an investment in African Industries Services Group.