AJEAST NIGERIA LIMITED RECEIVES A BOOST WITH $50 MILLION INVESTMENT FROM UK FIRM DUET

Must Read

Osun State – Broke and broken

Data from BudgIT has shown that for every ₦100 shared to the Osun State government as revenue allocation from...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

Duet, a U.K-based private equity company, has acquired a majority interest in AJEast Nigeria, a Nigerian African beverage manufacturer.

AJEast launched a manufacturing facility outside Lagos in 2015. The bottling plant produces brands including Big Cola, Big Orange and Big Lemon targeted at younger, middle-income earners.

The transaction, which is worth in excess of $50 million according to a press release issued by Duet, will enable AJEast to grow in its existing markets and expand its operations into neighbouring African countries. Duet said in its press release that it is confident there’ll be a significant growth in the growth of the beverages space in Africa as incomes rise throughout the continent.

“As the number of middle-income households in Nigeria and select West-African markets keep expanding, and more consumers are entering the formal economy through urbanisation, the demand for products such as BIG Cola will grow exponentially,” Henry Gabay, CIO at Duet Private Equity Limited and Co-Founder at Duet Group, said.

- Advertisement -

AJEast is the African subsidiary of AJE Group, a multinational company that manufactures, distributes and sale of alcoholic and non-alcoholic beverages. The company, which is headquartered in Lima, Peru and in Madrid, Spain, is controlled by the Añaños Family in Ayacucho, Peru. It is known for its flagship products Kola Real and Big Cola.

- Advertisement -
AJEAST NIGERIA LIMITED RECEIVES A BOOST WITH $50 MILLION INVESTMENT FROM UK FIRM DUET - Brand SpurAJEAST NIGERIA LIMITED RECEIVES A BOOST WITH $50 MILLION INVESTMENT FROM UK FIRM DUET - Brand Spur

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

AJEAST NIGERIA LIMITED RECEIVES A BOOST WITH $50 MILLION INVESTMENT FROM UK FIRM DUET - Brand SpurAJEAST NIGERIA LIMITED RECEIVES A BOOST WITH $50 MILLION INVESTMENT FROM UK FIRM DUET - Brand Spur

Latest News

Osun State – Broke and broken

Data from BudgIT has shown that for every ₦100 shared to the Osun State government as revenue allocation from...

Here is how to use Instagram Reels

It’s been about a week since you could have noticed a new feature on Instagram called Reels. Those short videos feature a little video...

How To Start A POS Machine Business In Nigeria

The whole world, including Nigeria, is trying to go cashless. As a result, POS machines are now appearing in every Nigerian area to make...

Gains in Industrial goods sector failed to sustain previous positive sentiment, as NSE-ASI shed 0.15%

The Nigerian equity market today (Friday) ended the trading week on a negative note, shedding 0.15% to reverse the previous day positive momentum. The...

BUA Foundation donates 100,000 Facemasks, 5 Ambulances to Akwa Ibom State (Photos)

Akwa Ibom State Governor Udom Emmanuel has restated his administration’s total commitment to decimating coronavirus in the State even as school resumes for exit...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -AJEAST NIGERIA LIMITED RECEIVES A BOOST WITH $50 MILLION INVESTMENT FROM UK FIRM DUET - Brand SpurAJEAST NIGERIA LIMITED RECEIVES A BOOST WITH $50 MILLION INVESTMENT FROM UK FIRM DUET - Brand Spur