IVORY COAST – Teyliom International Group, a pan-African investment company with a strong presence across various sectors in West Africa, has taken full ownership of Ivory Coast’s bottler Continental Beverage Company (CBC).
This follows the offloading of minority stake of the Ivorian company held by private equity firm, Phatisa, for an undisclosed sum.
Phatisa originally backed CBC in 2013 through its Food Fund 1 (AAF) and has more than doubled its production of clean, safe drinking water that meet the strictest international standards – under the Olgane brand.
During this time, the business also commissioned two additional production lines, and appointed highly experienced management – resulting in strong profit growth.
It has also grown to be one of the largest bottled water producers in Côte d’Ivoire, with a national distribution network.
Beyond an impressive increase in safe drinking water produced, CBC embraced environmental and social initiatives, including a robust environmental and social management system that the business is able to take forward.
Lize Lubbe, Principal at Phatisa, said, “Phatisa and Teyliom have worked extremely hard alongside CBC’s executive team to overcome a challenging economic environment to deliver meaningful growth.
“Always with sustainable development goals (SDGs) in mind, our investment in CBC primarily targeted SDG 8 and 12, decent work and economic growth and responsible consumption and production respectively.
“We are delighted to know that the measures we helped put in place towards these SDGs will be safeguarded within the Teyliom Group.”
Teyliom vowed that they will continue to develop investment in CBC with major capex and support the wider organisation.
“We thank Phatisa for the role they’ve played and expertise shared with us since 2013. This resulted in the growth of our agri business unit, which contributes meaningfully to Africa’s development by providing innovative products and services tailored to fit the needs of B2C, B2B and B2G customer segments,” Yerim Sow Chairman and CEO of Teyliom concluded.
The transaction has received all regulatory approvals.
The share transfer by Phatisa follows its acquisition of South African-based biotechnology company Deltamune from HL Hall & Sons Investments, beginning of the year.
Established in 1995, Deltamune develops and manufactures vaccines used in production animals for the food market – particularly poultry.
More recently, the company has expanded its vaccination range to address the ruminant market (cattle, sheep etc.).
The buyout and capital injection will enable Deltamune’s continued innovation and growth into both production animal verticals, plus enable geographic expansion into the sub-continent.