US investment firm Schulze Global Investments has acquired a 45% stake in Ethiopian dairy firm MB plc.
Robert Kariuki, a former Coca-Cola and Diageo executive, has joined the business as CEO.
Go deeper with GlobalData
MB plc, which trades as Family Milk, is based in the Ethiopian capital of Addis Ababa.
Kariuki said Schulze Global had been attracted to the company because of its “strong potential as a market leading dairy processor”. He also pointed to the “hugely unexploited” market for dairy products in Ethiopia, as well as the fact the country has the largest dairy cow population in Africa.
The company has plans to export processed dairy products to neighbouring countries. “Our plan is to expand into new horizons. We will introduce a new dairy based product portfolio and massively enhance the production capacity of Family Milk over the next two years,” Kariuki told just-food.
However, the group is prioritising improvement standards from its suppliers before further expansion, he added. “We are committed to training and improving the methods and practices of our suppliers in Ethiopia before we branch out. We want to advance local animal healthcare and also enhance breed of cattle. This is crucial.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
