Actis, the private equity investment firm specializing in emerging markets today confirmed, as part of the end of its investment period, the sale of its stake in Tunisian Poulina Holding Group.
Actis has invested in introducing Poulina on the Tunis Stock Exchange in August 2008.
This investment has allowed Actis to become the largest international shareholder of Poulina and the only side having a seat in the Board.
During the term of the investment Actis has provided advice on strategic and financial aspects and built a sustainable relationship with the founding families.
Established in 1967, Poulina pioneered the poultry industry in Tunisia and has subsequently diversified into various sectors of industry and consumption generating consolidated revenues of over $ 0.7 billion. Today, it is recognized as Tunisian leading industrial company led by a team of high caliber.
Poulina has shown resilience in the context of the global financial crisis and the Arab Spring, and managed to navigate these events remarkably well, helped by an experienced management team and a regional and industrial diversification, posting an average annual growth of 6 % in revenues and 5% in EBITDA between 2008 and 2011.
Murray Grant, partner at Actis, said: “Our partnership with Poulina reflects the investment philosophy of Actis; accompany the leading companies in their market in their next phase of growth. Working with a team of competent and motivated management also has been extremely rewarding. ”
Mr. Ben Ayed, founder and president of Poulina said: “Actis has been a valuable partner who accompanied us during difficult times, we thank them for their contribution and will now continue our work of building a sustainable and prosperous future of Poulina.”
Actis has made its investment in Poulina from the Canada Investment Fund for Africa which it co-manages with the emerging markets fund manager, Cordiant Capital.