Frigoglass Group has entered into an agreement to sell its Nigerian Glass business to Helios Investment Partners for up to €100 million. The deal includes the full shareholding of Frigoinvest Nigeria Holdings B.V., which owns Beta Glass plc and Frigoglass Industries Nigeria Limited.
These operations cover the Group’s manufacturing activities in glass containers, plastic crates, and metal crowns. The buyer, Helios Investment Partners, is acting on behalf of the funds it advises. The transaction is subject to regulatory approvals and is expected to close in the first quarter of 2026.
Frigoglass stated it will continue to support its Nigerian teams, customers, suppliers, and partners during the transition, and will assist Helios in navigating the local regulatory process. The announcement follows recent investments by Frigoglass in renewing key infrastructure and furnaces at its Nigerian facilities as part of its ongoing capital programme.
“This significant milestone is the culmination of nearly three years of intensive and multi-disciplinary transformation and growth across the Company’s various divisions that we embarked on in 2023 post Frigoglass Group’s balance sheet restructuring,” said Gagik Apkarian, Founder and Managing Director of Tetrad Capital Partners and Chairman of Frigoglass Group. “We are confident that Helios Investment Partners... will be a great steward of Beta Glass’ 50-year heritage of offering outstanding products and services to Beta Glass’ customers.”
