CAURIS CROISSANCE II FUND INVESTS IN AFRICA WEST INDUSTRIES (AWI)
Cauris Croissance II Fund, managed by Cauris Management, the West African private equity fund manager, has acquired a stake in the capital of Africa West Industries (AWI) in order to finance its development plan.
The investment of FCFA 3.1 billion (around EUR 4.8 million) by Cauris Croissance II Fund will allow AWI to improve its supply chain significantly and to broaden its offer with the launch of new products.
The company AWI
Present on the market since the end of 2011, AWI is an Ivorian company specialising in the production of household soap, distributed in around ten West African countries under the Kdo brand. The company rose into the top three Ivorian soap producers in less than four years, thanks in particular to the quality of its products.
Commenting on the investment by Cauris Croissance II Fund, Mr Angora Tano, Chairman and Chief Executive Officer of AWI, said: « The palm sector is of strategic importance at regional level, where the shortfall in oilseeds is large and growing. It exceeds one million tonnes within ECOWAS. Only Côte d’Ivoire, which is in surplus, can help close that gap. Palm oil is the only oil able to support such an ambition, given its impressive potential. Its yield of 4 tonnes per hectare is by far the highest of all oilseeds; soya, for instance, yields only 0.6 tonnes per hectare. Palm oil also has the best production cost. It is to take advantage of this that AWI has partnered with Cauris Management to continue its development, broadening its product range along the value chain and across every market segment, and diversifying into new related value-added products. AWI will thus be able to keep offering all consumers products that remain affordable, of good quality and innovative ».
« Driven by growing urbanisation, attractive macroeconomic prospects and demographic momentum, the regional soap market should maintain its upward trend. After more than three years of rapid growth, the partnership concluded with Cauris Management allows AWI to begin a second strategic stage, with vertical integration, a diversified offer and institutionalisation. This partnership also allows the company, with the support of Cauris Management, to address the questions raised by oil palm processing in our countries », says Thierry Vissého Gnassounou, Partner at Cauris Management.
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