African Private Investment fund Amethis Finance has announced its acquisition of a 30percent stake of Ramco Plexus, a diverse and dynamic printing and packaging group in Kenya from Ramco Group. Ramco Plexus is a consortium of 9 companies and is part of the Ramco Group.
The acquisition now means Amethis Finance will be a key partner in Ramco Plexus where Ramco Group still hold 70percent stake.
The Ramco Group was started in 1948 as a hardware store by the late Rambhai Patel and since its inception has grown to be a conglomerate of 34 companies pre-dominantly in Kenya and with a footprint in the rest of East Africa. It has also been recognised as one of the leading family business in Africa.
With more than 29 years of experience in the print and packaging sector, Ramco Plexus provides a fully integrated solution for the printing and packaging sector in Kenya. The companies that fall under Ramco Plexus have a combined annual turnover of US $ 62 million and a workforce of over 1200. These include
1. Ramco Printing Works Ltd – Largest offset printing, digital printing and promotional material supplier
2. Polythene Industries Ltd –Extrusion, Flexo Printing and Bag Making supplier
3. Platinum Packaging Ltd – Gravure printing and flexible packaging
4. Marketpower International Ltd – Prepress, Digital printing, print on demand and large format branding
5. ASL Packaging Ltd – Corrugated Cartons & Expanded Polystyrene boxes
6. The Print Store Ltd – Importers & Stockists of paper & board for the printing industry
7. Ecopallets Ltd – Manufacturers of Environment friendly pallets made of Corrugated Board
8. Broekhof Ltd – Flowers sleeves and supplier to the Horticulture sector
These companies have managed to differentiate themselves by providing a modern and innovative product portfolio to the market thanks to large investments in state-of-the-art equipment and a proactive management led by the third generation of the Rambhai family. Ramco Plexus now ranks in the top 3 in almost all their businesses and are gaining market share every year.
“Ramco has successfully managed to adapt to changing trade and economic structure through product diversification, vertical integration and state of the art technology. Amethis is delighted and proud to have entered into such a long term partnership with the Rambhai Family. We are the confident this Amethis investment will support Ramco’s regional expansion and that Amethis European and African network will help to identify acquisitions targets and build strategic partnerships” says Luc Rigouzzo President and Co-founder of Amethis.
Kirit Patel , Chairman of the Ramco Group says “This partnership with Amethis, which is a long term strategic investor, will allow us to differentiate ourselves further and will accelerate our plans to expand in the East and Central Africa.”
“I am very excited by all the synergies this operation will allow between these nine entities and the benefit it will bring to their clients and employees” says Jean-Sébastien Bergasse, Investment Director of Amethis.
Amethis will actively participate in defining and implementing of Ramco Plexus’s strategy and will open the Company to new partners and new markets and will play an active role in the governance with the ambition for the company to become an African leader in the printing and packaging sector.