EXEO Capital, a pan-African private equity investment manager, today announced the investment by its food and agribusiness fund, Agri-Vie Fund II, in Glacier Products Limited – the producers of Kenyan ice-cream and chocolate brand Dairyland. The investment is subject to receipt of regulatory approvals and is expected to be completed in the coming weeks.

Glacier, incorporated in 1979, has experienced strong growth over the years and is a common household brand, with its reach spanning...