Private Equity Firm Buys Stake in Detergent Maker

Apr 26 , 2019

The Swiss-based private equity firm, Zoscales Partners, bought a majority share of Ethio-Asian Industry, a detergent producer partly owned by East African Holdings. In 2018, Zoscales Partners announced two equity investments worth 75 million dollars they planned to make in Ethio-Asian and CGF Crown Cork Manufacturing, which engaged in the production of crown corks. The firm had planned to invest 45pc of the total amount by the end of the first quarter of 2019. Zoscales, managed by a team of international investment professionals, focus on small and medium-sized companies with superior return potential. Ethio-Asian Industries is also engaged in edible oils after it acquired Hameressa Edible Oil Factory.