Amethis acquires stake in FMCG company
Investment fund manager Amethis has acquired a minority stake in Nouvelle Minoterie Africaine (NMA), an FMCG company in Senegal, which produces and distributes poultry and livestock feed, pasta and wheat flour. This represents Amethis’ first transaction in Senegal.
Founded in 2000 by the late Ameth Amar, a successful Senegalese entrepreneur, NMA has rapidly grown thanks to organic growth, combined with the acquisition of Moulins Sentenac in 2015. NMA is a key player in the Senegalese industrial landscape both in terms of size and brand recognition.
In 2019, Amethis was finalising the transaction, when the late Ameth Amar passed away on July 22. In 2020, the Amar family renewed its trust in Amethis, expressing its will to resume the transaction. We are pleased to support the family through NMA’s next growth phase. Amethis becomes NMA’s first external shareholder.
Papa Madiop Amar, chairman of NMA, stated, “I am proud of the finalisation of this transaction. This is in line with our DNA to establish a win-win partnership which will add value to NMA. Indeed, with regards to the current uncertain macro-economic environment, NMA has made the decision to pursue its development through a partnership desired by the late Ameth Amar and in line with his vision. This partnership will also benefit NMA clients, employees, suppliers, and the Senegalese industry landscape. Last but not least, I would like to express my deep gratitude to the heirs of Ameth Amar and to NMA team, which consistently contributed to the realisation of this transaction.”
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