Beta Glass Plc, one of the country’s top makers of glass packaging for beverage, pharmaceutical, and food companies, has confirmed that its parent company, Frigoglass Group, has agreed to sell its stake in the business.
The announcement was made in a corporate disclosure submitted to the Nigerian Exchange Group (NGX) and signed by the Corporate Communications Manager, Mariam Peters.
According to the disclosure, Frigoglass will sell its shares in Frigoinvest Nigeria Holdings B.V., the holding company for Beta Glass Plc and Frigoglass Industries Nigeria Limited, to Helios Investment Partners for €100 million.
The deal is still awaiting regulatory approval and is expected to close in the first quarter of 2026.
The Founder and Managing Director of Tetrad Capital Partners, who also serves as Chairman of the Frigoglass Group, noted that the transaction will be completed as planned and described Helios as a strong fit for the company’s long-term future.
“We are confident that Helios Investment Partners, the leading Africa-focused private equity firm, will be a great steward of Beta Glass’ 50-year history of delivering quality products and services to its customers. We will continue to support Beta Glass in the months ahead until the transaction is finalised in early 2026,” he said.
Beta Glass CEO, Alex Gendis, also described the move as a positive step for the company, noting that it reflects the strength of the business and its prospects.
“We are delighted to welcome Helios Investment Partners to Beta Glass. After several years of transformative growth, the timing is right for Frigoglass to step back. This deal recognises our underlying potential and the work of our teams, and I am excited about where we are headed next,” he said.
Beta Glass Plc is listed on the Main Board of the Nigerian Exchange Group, with its share price trading at N370 at the time this report was filed.
Headquartered in Lagos, Beta Glass operates across Nigeria, Ghana, South Africa, Côte d’Ivoire, and several other African markets.
Frigoglass Group remains a major producer of commercial coolers and glass packaging, with operations across Africa and Europe.
