JOHANNESBURG and LONDON, Feb. 6, 2020 /PRNewswire/ -- Africa Capitalworks Management ("ACW"), a Sub-Saharan Africa-focused private equity investment company, is pleased to announce the acquisition of a significant minority equity shareholding in Gaselia Industries Group ("Gaselia"), one of the largest homegrown beverages groups in West Africa.
Founded in 2002 by local entrepreneurs and headquartered in Bamako, Mali, Gaselia has three bottling production and distribution operations, located in Mali, Ivory Coast and Guinea-Conakry. It is one of the leading producers in each of its markets and categories and has an ambitious growth plan. Gaselia is the exclusive partner of Monarch Beverages ("Monarch") in these territories, and its product portfolio comprises proprietary brands and Monarch brands, such as Planet, American Cola, Bubble-Up and Reaktor. Gaselia also produces and distributes mineral water, sold under its Assinie brand, and produces and supplies PET preforms to the West African market. Gaselia employs 800 people.
Commenting on the transaction, ACW Managing Partner Nana Sao, said: "Sub-Saharan Africa offers a wealth of investment opportunities, and we are delighted to be investing growth capital alongside Gaselia's accomplished founders in this exciting and dynamic sector."
Yann Rogombe, ACW Investment Professional, said: "We are pleased to partner with a successful local and entrepreneurially-led business, with a proven track record of building a world-class bottling operation. We believe our patient capital, complementary skills and strategic support will assist Gaselia to accelerate the implementation of its growth plan and build on its leading regional platform."
Madiou Simpara, Gaselia Chairman and founder, said: "We believe that we have found in ACW a partner with whom we share the same values and strategic vision. ACW will support us in our aim to provide greater access to affordable quality products to the mass market."
Boubacar Pona, Gaselia CEO and co-founder, also commented: "We are delighted to partner with ACW for the next phase of Gaselia's growth. ACW's capital and complementary skills and expertise will allow us to unlock the full potential and accelerate the expansion of our platform."
About Africa Capitalworks
ACW is part of the Capitalworks Group ("Capitalworks"), a leading independent alternative asset manager, concentrating in emerging markets. ACW is a permanent capital vehicle focused on the mid-market in Sub-Sahara Africa, excluding South Africa, and combines the deployment of patient capital with a strong partnership approach, working alongside entrepreneurs and management teams to build exceptional businesses.
Capitalworks is a leading independent alternative asset manager concentrating on Sub-Saharan Africa. Capitalworks manages more than US$1 billion for a diverse range of investors, including leading domestic and international institutional investors, commercial banks, insurance companies, pension funds, family offices and high net worth individuals. Capitalworks' philosophy is centred on building exceptional businesses through partnering with leading entrepreneurs and management teams.
SOURCE Capitalworks (Pty) Ltd