Beta Glass Plc, a leading manufacturer of glass packaging solutions in West and Central Africa, has announced that its major shareholder, Frigoglass Group, has signed an agreement to sell its entire stake in the company to Helios Investment Partners for up to €100m.

The deal covers Frigoinvest Nigeria Holdings B.V., the holding company of Frigoglass’s Nigerian glass business, including Beta Glass Plc and Frigoglass Industries Nigeria Limited, which comprise the Group’s glass container, plastic crate, and metal crown manufacturing activities.

The transaction, filed as a notice on the Nigerian Exchange Limited recently, is subject to regulatory approval and is expected to be completed in the first quarter of 2026.

“Frigoglass Group has entered into an agreement to sell the entirety of its shareholding in Frigoinvest Nigeria Holdings B.V., the holding company of its Nigerian glass business, including Beta Glass Plc and Frigoglass Industries Nigeria Limited, which comprise the Group’s glass container, plastic crates, and metal crowns manufacturing activities, for a consideration of up to €100m to Helios Investment Partners (acting on behalf of the funds it advises),” the company said.

The Founder and Managing Director of Tetrad Capital Partners and Chairman of Frigoglass Group, Gagik Apkarian, said the sale marks the culmination of nearly three years of strategic transformation and growth across the company’s divisions. “With Beta Glass’ record-breaking performance, industry-leading margins and tremendous growth opportunities, it has attracted significant interest from domestic and international buyers. We are confident that Helios Investment Partners, the leading Africa-focused private equity firm, will be a great steward of Beta Glass’ 50-year heritage of offering outstanding products and services to its customers,” he said.

Also, the Chief Executive of Beta Glass, Alex Gendis, expressed optimism about the transaction. “We are delighted to welcome Helios Investment Partners to Beta Glass. Following years of transformative growth, it is right for Frigoglass to transition away from our business. This transaction is a testament to the underlying growth potential and the strength of our high-performing teams. We also reassure our customers, partners, and colleagues that business operations will continue as usual during this transition period,” he said.

The PUNCH reported that the Chief Executive Officer of Beta Glass Plc, Alexander Gendis, has reaffirmed the company’s commitment to Nigeria’s industrial and economic growth, as a new socio-economic impact report outlined the scale of its operations over the past decade.