Lagos, Dec. 9, 2025 (NAN) – Helios Investment Partners has agreed to acquire the Nigerian glass operations of the Frigoglass Group in a transaction valued at up to €100 million.
The deal involves the sale of Frigoglass’ entire stake in Frigoinvest Nigeria Holdings BV, the holding company for Beta Glass Plc and Frigoglass Industries Nigeria Ltd. The acquisition includes all assets related to glass containers, plastic crates, and metal crowns.
The Nigerian Exchange Ltd. confirmed the planned acquisition in a disclosure on Tuesday, noting that the deal is subject to regulatory approval and is expected to be completed in early 2026.
Frigoglass said it would continue to support customers, suppliers, and partners throughout the transition period while assisting Helios in securing local approvals.
Gagik Apkarian, Chairman of Frigoglass Group, described the deal as a milestone reflecting “nearly three years of intensive transformation” across the company since 2023. He highlighted Beta Glass’ record performance and strong margins as key factors attracting interest from buyers both domestically and internationally.
“Helios, a leading Africa-focused private equity firm, will be a strong custodian of Beta Glass’ 50-year heritage,” Apkarian said, assuring that Frigoglass would continue supporting Beta Glass until the deal closes.
Beta Glass Chief Executive, Alex Gendis, welcomed the acquisition, stating that the deal marks the right moment for Frigoglass to step back after years of growth. He emphasized that operations would continue normally during the transition and praised the commitment of the company’s high-performing teams.
“The transaction demonstrates the company’s strong potential and positions Beta Glass for further growth under Helios’ stewardship,” Gendis added.
Godwin Okafor ✔
Godwin Okafor is the Publisher & CEO of Naija247news Media Group LLC, an independent investigative news platform delivering accurate, data-driven reporting on Nigerian and global politics, economy, finance, and business. Founded in October 2010, Naija247news specializes in developmental journalism, providing timely insights and analysis to readers across Nigeria and the diaspora.
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