Danone and Abraaj's investment expands Fan Milk’s production capacity in Ghana
In partnership with United Arab Emirates (UAE) based investment firm The Abraaj Group (Abraaj), French food company Danone has invested nearly $25m to add three new production lines at its factory in Accra, Ghana.
With the investment, Danone intends to strengthen its subsidiary Fan Milk and help the company meet growing demand in the regional West African market.
Established in 1962, FanMilk is reported to be one of the oldest milk brands in Ghana. In 2013, Danone and Abraaj jointly invested in the company and Danone acquired a majority stake last year.
By adding new production lines, Danone is expected to create nearly 200 employment opportunities in the region. The investment would also further enhance manufacturing capabilities and strengthen the Fan Milk brand.
New production lines will be used to produce FanMaxx, a new creamy drinkable yogurt, which will be released in the Ghanaian market by next month.
Fan Milk's Ghana managing director Stéphane Couste said: “The new FanMaxx is a product of Fan Milk, which has been a trusted brand in Ghana for 55 years. It is a new, healthy, and nourishing yogurt experience that is particularly suited to the local consumers.
“Fan Milk is famous for its frozen dairy. It will become a household name for its drinkable yogurt as well. Fan Milk Ghana is proud to be the first to produce this innovative experience in West Africa.”
FanMaxx contains calcium and is enriched with vitamins. It has a shelf life of four months and is particularly suited to the African markets.
FanMaxx will be available in 330ml bottles and will be available at more than 5,500 outlets in Accra, Tema, and Kasoa by the end of this year.