ECP makes two times return on African agribusiness investment

Africa-focused private equity firm Emerging Capital Partners has sold its entire minority position in SOMDIAA, a producer of sugar, flour and animal feed in Central Africa. The stake was sold to majority shareholders for $26m, making a two times multiple for the firm on its original investment.
ECP's initial investment, which was made in September 2003, provided SOMDIAA with working capital to expand its existing business and funds to acquire flour milling companies in Cameroon and in Réunion Island.

Through its plantations in Cameroon, Chad and the Republic of the Congo, SOMDIAA produces approximately 80 per cent of the consumer and industrial sugar sold throughout Central Africa, according to the firm. Read more.