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December 22, 2014
RAMCO GROUP: French Investment Firm buys into RGL

Celebrations all round after the signing of the sale agreement on December 22nd  2014.  
Pictured (L-R): Hasit Patel, CR Patel, Kirit Patel, Luc Rigouzzo President of Amethis Finance, Amit Patel, Jean Sebastien Bergasse Investment Director of Amethis Finance.

 

The Ramco Group is proud to announce the sale of 30% of its printing companies to a French investment firm – Amethis Finance. The new partnership opens the doors for a faster expansion of the Ramco Group into the East African print sector. 

There are 9 Ramco Group companies involved in the investment. Combined they have an annual turnover of US$62 million and employ over 1200 people. The 9 companies are –

  1. Ramco Printing Works Ltd
  2. Polythene Industries Ltd
  3. Platinum Packaging Ltd
  4. Marketpower International Ltd
  5. ASL Packaging Ltd
  6. Print Store Ltd (formerly ASL Paper)
  7. Ecopallets Ltd
  8. Broekhof Ltd
  9. Flexoworld Ltd

A Bit About Amethis
Amethis Finance is a French investment fund dedicated to Africa, with a total investment capacity of US$530m split between US$ 380m in equity and US$ 150m in debt. They have various investments across Africa including an equity investment in Chase Bank Kenya.

Amethis Finance is a “one-stop-shop” which provides a full set of long-term financial instruments, investing both in debt and equity, with high objectives in terms of development, social, environmental and governance matters, while delivering attractive returns to its investors. More can be learnt from http://www.amethisfinance.com/

 “Ramco has successfully managed to adapt to changing trade and economic structure through product diversification, vertical integration and state of the art technology. Amethis is delighted and proud to have entered into such a long term partnership with the Rambhai Family. We are confident this Amethis investment will support Ramco’s regional expansion and that Amethis European and African network will help to identify acquisitions targets and build strategic partnerships.”
— Luc Rigouzzo President and Co-founder of Amethis

“This partnership with Amethis, which is a long term strategic investor, will allow us to differentiate ourselves further and will accelerate our plans to expand in the East and Central Africa.”
–Kirit Patel, Chairman of the Ramco Group –