Business
Beta Glass Plc announces potential change in ownership
Beta Glass Plc, the leading manufacturer of glass packaging solutions in West and Central Africa, announces that its major shareholder Frigoglass Group has signed an agreement to sell its stake in Beta Glass.
This follows the Group’s successful three-year transformation strategy to strengthen the Company’s leadership position in glass packaging across West and Central Africa.
Frigoglass Group has entered into an agreement to sell the entirety of its shareholding in Frigoinvest Nigeria Holdings B.V., the holding company of its Nigerian Glass business, including Beta Glass Plc and Frigoglass Industries Nigeria Limited, which comprise the Group’s glass container, plastic crates, and metal crowns manufacturing activities for a consideration of up to €100 million, to Helios Investment Partners (acting on behalf of the funds it advises).
The transaction is subject to regulatory approval and expected to be completed in the first quarter of 2026. The Company will continue to work with the Group and its colleagues in Nigeria to ensure full support and focus to customers, suppliers, and partners during this transition period along with supporting Helios Investment Partners to navigate the relevant local regulatory approval.
Gagik Apkarian, Founder and Managing Director of Tetrad Capital Partners and Chairman of the Frigoglass Group said: “This significant milestone is the culmination of nearly three years of intensive and multi-disciplinary transformation and growth across the Company’s various divisions that we embarked on in 2023 post Frigoglass Group’s balance sheet restructuring. With Beta Glass’ record-breaking performance, industry-leading margins and tremendous growth opportunities, it has attracted significant interest from domestic and international buyers. We are confident that Helios Investment Partners, the leading Africa-focused private equity firm, will be a great steward of Beta Glass’ 50-year heritage of offering outstanding products and services to Beta Glass’ customers. We will continue to support Beta Glass in the months ahead until the consummation of the transaction early in 2026. Importantly, we are also immensely appreciative of the ongoing support of the Noteholders of Frigoglass Group for which the Company’s track record of transformative growth has underlined their ongoing support and confidence in our approach.”
Alex Gendis, Chief Executive of Beta Glass added: “We are delighted to welcome Helios Investment Partners to Beta Glass, and recognise that following a number of years of transformative growth it is right for Frigoglass to transition away from our business. It is testament to the underlying growth potential and our high performing teams that this transaction has come about, and I am excited about the future direction of travel. Also I would like to thank Frigoglass for their guidance, support, and investment, along with reassuring our customers, partners, and colleagues that the business will continue as usual during this transition period.”
Beta Glass Plc announces potential change in ownership
Beta Glass Plc, the leading manufacturer of glass packaging solutions in West and Central Africa, announces that its major shareholder Frigoglass Group has signed an agreement to sell its stake in Beta Glass.
This follows the Group’s successful three-year transformation strategy to strengthen the Company’s leadership position in glass packaging across West and Central Africa.
Frigoglass Group has entered into an agreement to sell the entirety of its shareholding in Frigoinvest Nigeria Holdings B.V., the holding company of its Nigerian Glass business, including Beta Glass Plc and Frigoglass Industries Nigeria Limited, which comprise the Group’s glass container, plastic crates, and metal crowns manufacturing activities for a consideration of up to €100 million, to Helios Investment Partners (acting on behalf of the funds it advises).
The transaction is subject to regulatory approval and expected to be completed in the first quarter of 2026. The Company will continue to work with the Group and its colleagues in Nigeria to ensure full support and focus to customers, suppliers, and partners during this transition period along with supporting Helios Investment Partners to navigate the relevant local regulatory approval.
Gagik Apkarian, Founder and Managing Director of Tetrad Capital Partners and Chairman of the Frigoglass Group said: “This significant milestone is the culmination of nearly three years of intensive and multi-disciplinary transformation and growth across the Company’s various divisions that we embarked on in 2023 post Frigoglass Group’s balance sheet restructuring. With Beta Glass’ record-breaking performance, industry-leading margins and tremendous growth opportunities, it has attracted significant interest from domestic and international buyers. We are confident that Helios Investment Partners, the leading Africa-focused private equity firm, will be a great steward of Beta Glass’ 50-year heritage of offering outstanding products and services to Beta Glass’ customers. We will continue to support Beta Glass in the months ahead until the consummation of the transaction early in 2026. Importantly, we are also immensely appreciative of the ongoing support of the Noteholders of Frigoglass Group for which the Company’s track record of transformative growth has underlined their ongoing support and confidence in our approach.”
Alex Gendis, Chief Executive of Beta Glass added: “We are delighted to welcome Helios Investment Partners to Beta Glass, and recognise that following a number of years of transformative growth it is right for Frigoglass to transition away from our business. It is testament to the underlying growth potential and our high performing teams that this transaction has come about, and I am excited about the future direction of travel. Also I would like to thank Frigoglass for their guidance, support, and investment, along with reassuring our customers, partners, and colleagues that the business will continue as usual during this transition period.”
