Wednesday, June 26, 2013

Vasari wins Private Equity Africa award for Dashen Brewery deal

June 24 - UK-based strategic investment firm Vasari announced on Friday it has won the “Special Recognition Award for a New Frontiers Deal” at the 2013 Private Equity Africa Awards ceremony held in London on June 11.

Vasari said it won the award for closing the largest private equity deal in Ethiopia to date. The transaction saw the firm join forces with Duet Group, a UK-based alternative asset manager, to make a significant equity investment into Dashen Brewery.

Heaquartered in Gonder, Dashen produces and distributes bottled and draught be
er and reportedly has 20 per cent of the market share. The company was established in 2000 and Vasari and Duet Group made what is considered the largest private equity investment in Ethiopia in January 2012.

According to reports, the initial funding would be used to expand Dashen’s production and distribution channels as well as building a new facility.

“We are delighted to have been recognised by this award. Dashen is an outstanding company and, in our role as industrial partners, we are committed to help the business achieve its full potential as the leading beer business in Ethiopia,” said Vivian Imerman, founder and chairman of Vasari. “Dashen is the first of a number of investments where Vasari will blend its financial resources and industrial acumen to develop a leading multinational consumer brands company focused on long term value creation.”

The 2013 Private Equity Africa Awards celebrate the best in African private equity in 2012. The final winners were selected by a panel of independent judges, based on recommendations from the London Business School Coller Institute of Private Equity and the PEA Awards Advisory Panel. The special recognition awards were awarded based on deal volumes and aggregate investment values, primarily based on data provided by Preqin.