Amethis Finance has acquired one third of Ramco Plexus in order to foster the Group expansion in Kenya and across the region.

With more than 29 years of experience in the print and packaging sector, Ramco Plexus is a consortium of nine companies and is part of the Ramco Group.

It provides a fully integrated solution for the printing and packaging sector in Kenya.

The long-term partnership between Amethis and Ramco aims at creating value-added by reorganizing and consolidating the printing and packaging activities under the same roof in order to release positive synergies and support the growth of Ramco Plexus, which has the ambition to reach the critical size which will enable it to consolidate its positioning in the region.

Kirit Patel, Chairman of the Ramco Group, said: “This partnership with Amethis, which is a long term strategic investor, will allow us to differentiate ourselves further and will accelerate our plans to expand in the East and Central Africa.”

The Ramco Group was started in 1948 as a hardware store by the late Rambhai Patel and since its inception has grown to be a conglomerate of 34 companies predominantly in Kenya and with a footprint in the rest of East Africa.

Ramco Group has diverse interests covering the manufacturing, trading and service sectors.

This family business has a combined workforce of 3000 people, and an annual turnover of $265m and has been recognized as one of the leading family business in Africa.

Whilst the Ramco Plexus companies are relatively recent compared to their long-standing competitors, they have managed to differentiate themselves by providing a modern and innovative product portfolio to the market thanks to large investments in state-of-the-art equipment and a proactive management led by the third generation of the Rambhai family.

Ramco Plexus now ranks in the top 3 in almost all their businesses and are gaining market shares every year. Amethis will bring value-added in various areas to support the company’s in its regional strategy and to consolidate its leading position in its market.

Amethis will be an active stakeholder by supporting the implementation of Ramco Plexus’ strategy as well as improving the Group’s governance.

By harvesting the fruits of the partnership between Amethis and Ramco Plexus, an African leader in the printing and packaging sector emerges.

Luc Rigouzzo, President and Co-founder of Amethis, said: “Ramco has successfully managed to adapt to changing trade and economic structure through product diversification, vertical integration and state of the art technology. Amethis is delighted and proud to have entered into such a long term partnership with the Rambhai Family.”

“We are confident this Amethis investment will support Ramco’s regional expansion and that Amethis European and African network will help to identify acquisitions targets and build strategic partnerships,” he said.