News Agriculture

Helios Investment Partners to Take Over Frigoglass Packaging Operations in Nigeria

Helios Investment Partners to Take Over Frigoglass Packaging Operations in Nigeria
Friday, 12 December 2025 03:20
  • Frigoglass to sell Nigerian packaging unit to Helios for nearly €100M

  • Deal includes Beta Glass, marks Frigoglass’s exit from Nigeria by 2026

  • Company shifts focus to MENA cold-chain growth, expanding Egypt operations

Greek commercial refrigeration equipment maker Frigoglass has begun selling its Nigerian packaging business to pan-African investment firm Helios Investment Partners in a deal worth nearly 100 million euros ($116.9 million), the company said on Dec. 8.

Frigoglass said the transaction, which still requires regulatory approval, is expected to close in the first quarter of 2026.

The sale covers Frigoglass’s entire stake in Frigoinvest Nigeria Holdings B.V., the holding company for the group’s packaging operations in Nigeria. Its subsidiaries include Beta Glass Plc and Frigoglass Industries Nigeria Ltd in Ogun State, which produce glass bottles, plastic crates and metal caps for the beverage, food and pharmaceutical industries.

The company will work closely with its teams in Nigeria to ensure uninterrupted support for customers, suppliers and partners during the transition, and to assist Helios in securing local regulatory approvals,” Frigoglass said.

The move marks Frigoglass’s exit from Nigeria after more than two decades of operations and comes as the group focuses on expanding its commercial refrigeration business in the Middle East and North Africa.

Frigoglass has operated in Egypt since June 2025 through a partnership with local appliance manufacturer Fresh SAE. In November, the company said it plans to raise annual beverage refrigerator production in Egypt to 100,000 units by 2028 as part of a strategy to secure about 30% of the MENA market.

The expansion reflects strong growth prospects for cold-chain logistics in the region. According to BCC Research, the Middle East and North Africa cold-chain market is expected to grow at an average annual rate of 8.8% to reach $41.1 billion between 2025 and 2030.

Outside Egypt, Frigoglass’s only remaining manufacturing operation in Africa is its commercial refrigerator plant in Johannesburg, which supplies beverage companies including Coca-Cola and PepsiCo.

Stéphanas Assocle

On the same topic
Tanzania invested $9 million in irrigation equipment to accelerate nationwide irrigation projects. The government plans to drill 500 irrigation...
Liberia is preparing a national agricultural traceability system to comply with the EU Deforestation Regulation (EUDR) due to fully apply in late...
Senegal has inaugurated a vegetable oil refinery with a capacity of 600 tons per day. The CFA60bn project aims to cut imports and strengthen food...
Cameroon coffee export revenues tripled to 3.5 billion CFA francs Marketed output rose 10% in 2024-2025, NCCB data show Producer prices...
Most Read
01

Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...

Global Firepower Index 2026: Egypt, Algeria, Nigeria Lead Africa's Military Rankings
02

Circular migration is based on structured, value-added mobility between countries of origin and host...

Circular migration as a lever to turn Africa’s student exodus into value
03

BRVM listed the bonds of the FCTC Sonabhy 8.1% 2025–2031, marking Burkina Faso’s first securitiz...

BRVM Lists Burkina Faso’s First Securitization Fund Bonds
04

CBE introduced CBE Connect in partnership with fintech StarPay. The platform enables cross-border...

Ethiopia’s CBE launches digital platform to channel diaspora remittances
05

President Tinubu approved incentives limited to the Bonga South West oil project. The project tar...

Nigeria approves targeted incentives to speed up Shell’s Bonga South West project
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.