CDC Capital Partners is backing a US$20m management buyout of an Egyptian sesame food business, El Rashidi El Mizan, which is being sold by Anglo-Dutch consumer products giant Unilever.
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Unilever is selling the 113-year-old family business because it says it does not fit with its “Path to Growth” refocusing strategy.
If the buyout is successful, the company’s management team will have a stake in the business, with CDC as majority shareholders, while the remainder will be held by the Rashidi family and other shareholders.
El Rashidi El Mizan is a market leader in the production of the Egyptian staple foods, Halawa and Tahina, both of which are made from sesame seed.
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By GlobalData
