Helios Investment Partners will buy the Nigerian glass operations of the Frigoglass Group in a deal valued at up to €100 million.
Frigoglass will sell its full stake in Frigoinvest Nigeria Holdings BV, which owns Beta Glass Plc and Frigoglass Industries Nigeria Ltd., to Helios.
The Nigerian Exchange Ltd. confirmed the planned acquisition in a disclosure issued on Tuesday.
Frigoglass said, “The Group has agreed to sell all its shares in Frigoinvest Nigeria Holdings BV, the holding company of its Nigerian glass business.
“The assets include Beta Glass and Frigoglass Industries Nigeria, covering glass containers, plastic crates and metal crowns, for up to €100 million.”
The company said the deal requires regulatory approval and should be completed in early 2026.
It added that it would support customers, suppliers, and partners during the transition while helping Helios secure local approvals.
Gagik Apkarian, Chairman of Frigoglass Group, said: “This milestone reflects nearly three years of intensive transformation across the company since 2023.
“Beta Glass’ record performance and strong margins attracted keen interest from buyers at home and abroad.
“We believe Helios, a leading Africa-focused private equity firm, will be a strong custodian of Beta Glass’ 50-year heritage.”
Apkarian said the Group would keep supporting Beta Glass until the deal closes in early 2026.
He added, “We appreciate the continued support of our noteholders, whose confidence reflects our sustained transformation.”
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Beta Glass chief executive, Alex Gendis, said, “We welcome Helios and accept that, after years of growth, it is right for Frigoglass to step back.
“The deal shows the company’s strong potential and the commitment of our high-performing teams.”
Gendis thanked Frigoglass for its investment and assured partners that operations would continue normally during the transition. (NAN)
