Beta Glass Plc, a leading manufacturer of glass packaging solutions in West and Central Africa, will soon have a new major shareholder as Frigoglass Group has agreed to sell its entire stake in the company to Helios Investment Partners for up to €100 million.
The agreement covers the sale of Frigoglass’ shareholding in Frigoinvest Nigeria Holdings B.V., the parent company of Beta Glass Plc and Frigoglass Industries Nigeria Limited. The business units include glass container manufacturing, plastic crates, and metal crown production.
The deal is subject to regulatory approval and is expected to conclude in the first quarter of 2026.
According to a statement, during the transition period, Beta Glass will continue to work closely with its current owners and partners to ensure smooth operations.
Speaking on this, Mr Gagik Apkarian, founder and Managing Director of Tetrad Capital Partners and Chairman of the Frigoglass Group, described the transaction as the culmination of a three-year transformation programme for the company.
According to him, Beta Glass’ strong financial performance and growth potential attracted “significant interest from domestic and international buyers,” with Helios ultimately emerging as the preferred investor.
Mr Apkarian noted that Helios’ investment is expected to accelerate the company’s future growth, adding that Beta Glass’ 50-year legacy makes it an attractive platform for further value creation.
Also, speaking on the development, Mr Alex Gendis, the chief executive of Beta Glass, welcomed Helios Investment Partners, saying the move aligns with the long-term strategic vision for the business.
He said the transaction “is testament to the underlying growth potential” of Beta Glass and credited Frigoglass for its guidance and support during the company’s transformative years.
Mr Gendis also assured customers, suppliers, and stakeholders that business operations will continue uninterrupted throughout the transition.
The transaction marks a significant shift for Frigoglass, which is divesting from its Nigerian glass operations after a period of intensive restructuring and growth optimisation. It comes a few months after Beta Glass completed the revamp of its DF1 Furnace at Ughelli Plant in 48 days.