Abu Dhabi – Mubasher: The Abraaj Group announced the acquisition, through its second generation North Africa Fund (ANAF II), of a significant minority stake in Algeria-based Cellulose Processing (CEPRO), a leading manufacturer and distributor of baby diapers and feminine sanitary pads, according to the company’s statement.
Founded in 2003 by Djamel Mehri of the Mehri Family, a family conglomerate in Algeria with businesses in the hospitality, telecommunications and FMCG sectors, CEPRO has grown to become the fourth largest player in the baby diapers segment by market share in Algeria. The company has a full range of baby diaper products through its brands BBCool Premium, BBCool and Poupoune, as well as feminine sanitary pads under the brand name Finesse. CEPRO employs over 300 people and operates nationally through a strong network, partnering with distributors across the country.
Abraaj pointed out that CEPRO represents an attractive investment opportunity for it given the high population and fertility rates in Algeria. With rising disposable incomes and positive changes in consumption patterns, Algeria is one of the most promising markets for high-quality diaper products in North Africa. 2014 marked the highest number of recorded births in a year in Algeria, with more than a million newborn babies. The Algerian market has a diaper product penetration rate of 29%, compared with 35 % in North Africa and 61 % as the global average.
