The Abraaj Group, a leading investor operating in global growth markets, has acquired through its second generation North Africa Fund ('ANAF II'), a significant minority stake in Cellulose Processing (CEPRO), a leading manufacturer and distributor of baby diapers and feminine sanitary pads in Algeria.
CEPRO represents an attractive investment opportunity for Abraaj given the high population and fertility rates in Algeria. With rising disposable incomes and positive changes in consumption patterns, Algeria is one of the most promising markets for high-quality diaper products in North Africa.The Abraaj Group, a leading investor operating in global growth markets, has acquired through its second generation North Africa Fund ('ANAF II'),#
Abraaj, in partnership with the Mehri Family, one of the most established entrepreneurial groups in Algeria, will draw on its significant investment expertise to increase production capacity and efficiency, diversify CEPRO's product offering, enhance marketing efforts through a new branding strategy, and expand its network by developing new distribution channels in Algeria and Sub-Saharan Africa. CEPRO, which currently operates with robust corporate governance mechanisms, will look to further upgrade its Enterprise Resource Planning (ERP) system and reporting platforms, according to a press release.
Ahmed Badreldin, partner and regional head of Middle East and North Africa for The Abraaj Group said, “CEPRO represents an exciting investment partnership for us, as it is a direct beneficiary of the African consumer opportunity driven by market necessity, rapid population growth and the rise of the middle class. We will apply our global experience in the consumer businesses sector to create local value through job creation, industrial development and investment, and knowledge transfer. We look forward to working closely with the Mehri Family to further strengthen CEPRO's position in the market and expand regionally with a focus on Sub-Saharan Africa.”
Djamel Mehri, founder and chairman of CEPRO said, “Having built the business over the last ten years into one of the leading home grown diaper manufacturers in Algeria, we believe this is an opportune time for CEPRO to expand its footprint nationally and regionally by offering the most advanced products to our clients.” (GK)
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