Schulze Global Investments Limited, an American investment firm, has concluded the acquisition of 45 percent stake in MB Plc, producer of Family Milk and other dairy products.

Dawit Mechal, Founder of MB Plc, said: “Family’s milk vision is to become the pioneer in new product development in Ethiopia and to be recognized for delivering the industry’s highest standards in quality, innovation.

And partnering with Schulze will take it to the next step in funding the local presence in tremendous value adding capability and a strong partnership value.” He added.

Family Milk also has long-term supply contracts with Ethiopian Airlines and different hospitals and government agencies as well.

The company’s current product mix includes pasteurized milk, butter, yogurt and different cheese types like cottage, mozzarella, provolone, ricotta and feta.

Greg Metro, Managing Director of Schulz Global Ethiopia, said: “We believe that through implementing international best practices in dairy processing and product development, supplementing management and technical expertise and investing substantial growth capital the company is well positioned to help transform the dairy sector in Ethiopia”.

Ethiopians currently consume 19 liters per capita of milk per year, a mere 10 percent that of Sudan and 20 percent that of Kenya.

According to experts in the sector, feed supply availability, lack of genetic improvement of native dairy cows and low milk consumption are the main hurdles of the sector.

Source: The Daily Monitor