A UK-based private equity firm, Duet Private Equity (DPEL), has acquired a majority stake in Ajeast Nigeria Limited, a subsidiary of Peru-based AJE group.
DPEL is said to have invested over US$50 million in the acquisition and a significant share will be used to expand Ajeast’s presence in Nigeria.
AJEAST Nigeria Limited, a subsidiary of AJE Group, a Peruvian soft drink producer, with footprints in 20 countries and last year, was ranked 21 of all soft drink makers globally by Euromonitor, with sales of about $2bn, made its debut in Nigerian in October.
At the launch of the BIG Cola brand and its variants (Cola, Lemon, and Orange) at their production facility in Agbara Industrial Estate, Mr. Theo Williams, Country Manager for AJE said, “The focus is about consumers, AJE in Nigeria is to offer BIG for everybody, we are giving more for less. We want to ensure that consumers get something affordable that they can share with families and friends.
