African Private Investment fund Amethis Finance has acquired a 30% stake of Ramco Plexus, one of Kenya’s biggest family businesses with interests in the printing and packaging industry.
The acquisition now means Amethis Finance will be a key partner in consotium of nine companies, all part of the Ramco Group, a conglomerate of 34 companies founded by the late Rambhai Patel in 1948 and has a footprint in the rest of East Africa.
Mr Kirit Patel, Chairman of the Ramco Group said the partnership with Amethis was a long term strategic investment that would allow the Group to accelerate its plans to expand in the East and Central Africa region.
Amethis said it would actively participate in defining and implementing of Ramco Plexus’s strategy and open the company to new partners and new markets. It added that it intends to play an active role in the governance to shape Ramco into an African leader in the printing and packaging sector.
Amethis Finance brings into the partnership more than Ksh45 billion worth of capital.
“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 the 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” said Luc Rigouzzo President and Co-founder of Amethis.
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