Daraju commissions 3rd detergent plant of 3,000 metric tonnes in Ota
December 14, 2018, Ogun, Nigeria – Daraju Industries Limited, a leader in the production of household and personal care products in Nigeria, with leading brands such as MYMY, Extreme, Fressia and Rana, commissioned a 3,000 Metric Tonnes Detergent Plant in the company’s factory in Ota.
The newly commissioned detergent plant is the third in the company’s factory complex, following the first two commissioned in 2012 and 2015. The newly commissioned plant doubles the company’s detergent production capacity and is part of a series of capital investments that will support the transformation of its business processes.
The new detergent plant strengthens the company’s long-term plans to become the market leader in the laundry care segment of the FMCG industry. It also highlights one of CAPE IV’s value creation initiatives for the business, which include improving production capacity, boosting business efficiencies, cost optimization via backward integration and process improvements.
It is expected that the newly commissioned plant will play a pivotal role in increasing the company’s market share in the laundry care segment, and in improving brand awareness in its market.
ACA hosts its business partners annual breakfast event
December 14, 2018, Lagos, Nigeria – The annual ACA breakfast event for business partners held on Thursday, December 13, 2018 at the Eko Hotel & Suites. It was attended by close associates, stakeholders and key delegates of the firm. The breakfast event, which has held over the past years, provides an opportunity to discuss topical management issues, as well as review the evolving macro-economic overview for the coming year.
This year, Dr. Doyin Salami, CEO- Kainos Edge provided a 2019 macro-economic overview of Nigeria in his presentation, which was followed by Mr. Mauricio Alarcon, CEO- NESTLE Nigeria, the next speaker discussed the subject of leadership dynamics in a volatile and uncertain environment.
Daraju and ACA announce Cape IV’s investment into Daraju Industries Limited
July 15, 2018, Lagos, Nigeria – Daraju Industries Limited (Daraju) is a manufacturing company that produces local household and personal care products. Daraju fully commenced its Nigerian operations in 2008, with a vision to become a leading local household and personal care manufacturing company. The investment will be used for capex expansion in the company.
The company’s portfolio comprises of a range of personal care and home/laundry care products catering to the Nigerian population. Some brands of the company include MYMY and Extreme brands of toothpaste, Fressia Brands of Soap, Fressia Brands of Petroleum Jelly, as well as MYMY, Soft & Clean and Rana brands of washing detergent. Daraju is focused on producing the highest quality products by all local and international standards. Daraju has strong brand recognition amongst its customer base which is spread accross Nigeria. The company’s products have been certified by ISO with its ISO 9002 certification, as well as all regulatory bodies within the FMCG manufacuturing sector in Nigeria.
With more than 1,000 employees, Daraju operates a robust and efficient manufacturing operation at its factory located in Ota, Ogun State which is constructed and operated with the high industry standards in manufacturing, health, safety and environmental practices. The company has invested significantly in its distribution and logistics network and is able to provide valuable products to all its suppliers and customers across hubs nation-wide. Daraju’s leadership is made up of seasoned professionals, who have deep experience manufacturing personal care and home care products. The investment from CAPE IV enables Daraju to expand its portfolio offering to reach every Nigerian household who demand locally manufactured quality products. All parties to the transaction are optimistic that Daraju’s extended portfolio of products and sustained market presence will benefit the Nigerian consumer and deliver attractive investment returns.
Mr. Peeyush Garg, founder and chairman of Daraju, commented: “Nigeria has a large population (~190 million), and Daraju seeks to position itself to meet the needs of this population. We are at the early stages of what we seek to achieve for and with the people of Nigeria, and with our partner (ACA), we hope to continue to provide high quality locally produced products which will rival any internationally imported personal care product. Most importantly this company seeks to build the local manufacturing capacity in Nigeria, train and impart valuable skills to the younger generation who will be empowered to build and grow other manufacturing businesses locally”.
Mr. Paul Kokoricha, of ACA, commented – “We are very pleased to be investing in the Nigerian manufacturing sector via Daraju Industries Limited. We believe there is a huge opportunity for good quality locally produced consumer products in Nigeria which can eventually be sold to neighboring countries. Bringing customers good quality and affordable products is the thesis underpinning this investment in Daraju Industries limited but most importantly we seek to support the growth of local manufacturing to help in building local skill transfer and competency locally. We are determined to support this mission for the benefit of every Nigerian. Daraju Industries Limited will continue to push the boundaries for the benefit of all stakeholders, especially its consumers.”
For more information please contact:
Investor Relations
[email protected]
Phone: +234 1 277 7000
About Capital Alliance Private Equity IV (CAPE IV)
CAPE IV is a private equity fund sponsored by African Capital Alliance Limited (ACA), to make equity and equity-related investments in high-growth target sectors in West Africa and the Gulf of Guinea region. The Fund’s target sectors include Fast Moving Consumer Goods (FMCG), Business Services, Energy, Financial Services, and Telecommunications, Media & Technology (TMT).
About ACA
Formed in 1997, ACA has over US$1 billion assets (at cost) under management. With a proven record of adding value to investments and delivering strong returns to investors, ACA has cemented its reputation as a leading private equity investor, investing in Nigeria and the Gulf of Guinea region (the “Region”). Our single investment size typically ranges from a minumum of $20m to up $80m.
Please click HERE to download a copy of Daraju’s Press Release. To know more about Daraju, click HERE
Topping out ceremony holds for cornerstone tower
November 23, 2017, Lagos, Nigeria – Cap Phoenix Cornerstone, a joint venture between African Capital Alliance and Cornerstone Insurance Plc, today held a topping out ceremony to celebrate the completion of the structure of Cornerstone Tower, a 12-floor office project situated adjacent to the Four Points by Sheraton Hotel on Chief Yesufu Abiodun Road, Oniru Road, Oniru, an upscale, vibrant mixed-use district. Cornerstone Tower has now reached its full height and is scheduled to open the second quarter of next year.
Once completed, this Grade A, ultra-modern office building will boast eight floors of flexible office space and meeting rooms, four floors of multi-level parking, a prestigious reception area and a ground floor café. The EDGE Certified Green Building will also be one of Nigeria’s most advanced developments, employing high technical specifications for installed building services, security and state of the art finishes.
Office spaces are designed with high efficiency and flexibility, and are built with raised floors and suspended ceilings with impressive natural lighting and ventilated spaces, allowing for modular spaces ranging from 200 square meters up to 1,400 square meters on each floor. The building’s central location in Victoria Island will provide convenient private and public transport access with direct links into Lekki, Ikoyi and the Lagos Mainland.
The project is being executed by a distinguished team of consultants: CPMS Limited (Project Managers), Delano Architects (Architects), Arup (Civil & Structural Engineers), UNECON Associates Limited (Mechanical & Electrical Engineers), BQC Consultants Limited (Quantity Surveyors) and Mar and Mor, (Mechanical, Electrical and Plumbing Services contractors).
The main building contractor, BCL Limited, brings 25 years of experience in the Lagos construction arena and utilizes leading edge methodologies to ensure that budget, quality and delivery programs are met.
About African Capital Alliance
African Capital Alliance (ACA) is a leading, independent investment firm focused on Nigeria and the broader West African region. ACA has, to date, raised more than $1 billion in capital commitments across several funds. Since its inception in 1997, ACA has grown into one of the most experienced private equity and real estate investment firms in the region, with more than 40 private equity investments across a number of high growth target sectors including oil and gas, power, telecommunications/media/technology (TMT), financial services, fast-moving consumer goods (FMCG) and business services.
ACA also has significant experience in the real estate sector and invests in residential, retail, office and hospitality products across the region. Some of its notable investments include Mansard Place, a Grade A office complex located in the Victoria Island Central Business District, Protea Hotel by Marriott (Ikeja, Benin City and Owerri City), Festival Mall and Onitsha Mall.
ACA principal speaks at the 2017 Real Estate Unite Summit
October 23, 2017, Lagos, Nigeria – ACA Principal, Obi Nwogugu, today participated in a panel session themed “Mixed-Use: Live, Work, Play,” during the 6th edition of the Real Estate Unite 2017 Summit.
The session addressed the changing needs of the global real estate market and the increasing level of adaptation of developers to mixed-use developments.
In his remarks, Obi highlighted the potential role mixed-use schemes could play in the evolution of cities in Sub-Saharan Africa. According to him, such schemes could drive further scale and development of cities, thereby attracting a greater inflow of private capital and infrastructural development. He also mentioned the potential multiplier effect on tourism and improved quality of life of residents.
In his closing remarks, Obi stressed the importance of getting key fundamentals right in developing mixed-use projects. As an example, he highlighted ACA’s recent investment in Bluewater Lekki , a mixed-use development comprising of over 500 apartments with modern conveniences, 10,000 sqm retail/commercial use and recreational facilities designed for comfort and pleasure, in a secure water-front environment.
About Real Estate Unite
Real Estate Unite is an annual flagship event that provides an important platform for key players in Africa’s property industry to discuss opportunities and issues facing the global real estate market.