(Ecofin Agency) - Mauritian investment firm TRT Investments has acquired a 49% stake in KAS Africa, a South African consumer goods distribution company. The investor, which manages more than $200 million in assets, has joined the company's shareholding for $10 million. KAS Africa manufactures personal care, oral care, and baby care products.
The money will be used to back the South African company’s long-term growth plan and meet its short-term cash flow needs. KAS Africa will build and equip a new manufacturing plant while working to improve its products and attract new customers.
“We have bought a significant share in KAS Africa because it fits into TRT’s strategy of industrializing Africa and helping to build it into the alternate supply chain of the world. We are particularly excited about the potential of expansion into East and West Africa for KAS Africa,” said Adam Molai (pictured), CEO of TRT investments.
The investment company which manages a portfolio of diverse operations in five African markets (South Africa excluded) claims more than 20 years of experience in the manufacturing and distribution sector in southern Africa.