Adiwale Fund I acquires a minority stake in Global Action
Mauritius / Abidjan, 12th September 2023 - Adiwale Fund I announces a minority equity investment in Global Action, a growing consumer goods distribution company in Senegal.
Global Action was founded in 2014 by Moussa Mboup, a Senegalese businessman with over 35 years' experience in wholesale and retail distribution. The company is a significant player in wholesale distribution in Senegal with customers in several regions of the country.
The company is targeting the expanding consumer goods market in Senegal driven by the urbanisation and the growth of the middle class - expected to continue over the foreseeable future. Adiwale's funding will enable Global Action to open additional points of sale across the country densifying its distribution network and expanding its affordably priced product offering. Furthermore, Adiwale will contribute to strengthening Global Action's managerial and operational capabilities by participating in the reinforcement of the team and by investing in logistics and IT systems.
Moussa Mboup, founder and CEO of Global Action, said: "We are delighted to enter in this partnership with Adiwale which will enable Global Action to kick start its new phase of growth. With Adiwale’s support, Global Action will reinforce its traditional wholesale distribution business and increase vertical integration with the development of its retail business getting closer to the end consumer".
Visseho Gnassounou, co-founder and Managing Partner of Adiwale Partners, commented: "We are pleased to accompany Global Action in this new chapter of its growth, supporting the diversification of its offering with a varied quality product range and the expansion of its geographic coverage throughout the country”.
Jean-Marc Savi de Tové, co-founder and Managing Partner of Adiwale Partners, added: "Our ambition is to make Global Action a significant player in retail distribution, catering mainly to a local customer base. We will also help the company strengthen its operational practices, including the implementation of environmental standards”.
Grant Thornton conducted the financial, tax, human resources and information system due diligence.
IBIS Consulting assisted the Fund with its environmental and social due diligence.
ADNA advised Adiwale Fund I on the legal aspects of the transaction.
About Adiwale Partners
Adiwale Partners (www.adiwale.com) is an independent private equity fund manager established in 2016 and based in Abidjan, Côte d'Ivoire. Adiwale Partners manages Adiwale Fund I, a €60 million private equity fund that provides operational support to companies looking to strengthen and grow in West Africa and beyond. Adiwale Fund I invests primarily in consumer goods and services, business services and manufacturing