Beta Glass Plc (NGX: BETAGLASS) is set for a major change in ownership as its core shareholder, Frigoglass Group enters agreement to divest its entire stake in the company.
In a statement released on the Nigerian Exchange, Frigoglass disclosed that it has entered into a definitive agreement to sell 100 per cent of its shareholding in Frigoinvest Nigeria Holdings B.V.—the holding company for its Nigerian glass operations, including Beta Glass Plc and Frigoglass Industries Nigeria Limited—to Helios Investment Partners for a consideration of up to €100 million .
The proposed transaction, which covers glass containers, plastic crates and metal crown manufacturing activities, is subject to regulatory approvals and is expected to be completed in the first quarter of 2026.
Frigoglass explained that the divestment follows the successful execution of a three-year transformation strategy launched in 2023 after the group’s balance sheet restructuring. The company noted that Beta Glass has since recorded strong performance, industry-leading margins and improved growth prospects, making it attractive to both domestic and international investors.
Commenting on the deal, Gagik Apkarian, Founder and Managing Director of Tetrad Capital Partners and Chairman of Frigoglass Group, described the transaction as a major milestone. He said the sale reflects the strong turnaround recorded across the group’s operations over the past three years and expressed confidence in Helios Investment Partners as a long-term steward of Beta Glass’ 50-year legacy.
He also assured stakeholders that Frigoglass would continue to support Beta Glass through the transition period until the transaction is fully consummated in early 2026.
On his part, the Chief Executive Officer of Beta Glass, Alex Gendis, said the company is pleased to welcome Helios Investment Partners as its new core investor. He described the transaction as a natural next step following years of sustained growth and operational improvements, while reassuring customers, partners and employees that business operations would continue as normal during the transition phase .
Beta Glass Plc is headquartered in Lagos and serves the beverage, pharmaceutical and food industries with premium glass packaging solutions. The company operates across several African markets and exports to various countries within West and Central Africa.
Helios Investment Partners is an Africa-focused private equity firm with investments spanning multiple sectors across the continent. Its entry into Beta Glass signals renewed investor confidence in Nigeria’s manufacturing and packaging industry despite prevailing macroeconomic challenges.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
