Marking the fifth full exit for its first fund, Phatisa has sold its stake in Continental Beverage Company, (CBC), a beverage and bottling business based in Côte d’Ivoire to Teyliom International Group, a fellow shareholder in the firm. A representative declined to disclose how much Teyliom is paying for Phatisa’ significant minority stake as well as the IRR the exit realizes for the private equity firm’s Food Fund I.
Phatisa first backed CBC in 2013, since when the business has added more experienced managers to its team, and commissioned two additional production lines, doubling its production capacity of clean drinking water and increasing its profits. CBC produces and distributes non-alcoholic beverages that meet strict international standards under the Olgane brand. The company has grown to be one of the largest bottled water producers in Côte d’Ivoire, distributing its products across the West African country.
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