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Private equity Phatisa buys ‘significant’ stake in General Plastics
Unilever’s Blue Band margarine at a retail outlet in Nairobi. General Plastics manufactures packaging materials for large companies including Unilever. PHOTO | FILE
A private equity fund has bought a “significant” stake in General Plastics (GPL), a Nairobi-based family business that makes packaging for food, cosmetics, beverage and agro-chemical companies.
The investment is the eighth for Phatisa and brings total commitments from its $246 million (Sh22 billion) African fund to more than $123 million (Sh11.2 billion). Both parties declined to disclose the value of the investment in one of Kenya’s largest manufacturers but the deal indicates growing foreign interest in Kenya’s consumer sector.
