Actis and Helios exit Flamingo(3)

Tea company Finlays has bought horticultural business Flamingo, providing an exit for minority shareholders Actis and Helios Investment Partners.

Emerging markets buyout specialists Actis and Helios Investment Partners have sold their minority stakes in horticultural business Flamingo, which has been bought by tea company Finlays for an undisclosed sum.

Flamingo grows, processes and packages cut flowers and fresh vegetables to the UK market.

The UK business has interests in Kenya through subsidiary Homegrown, making it the largest supplier of horticulture from Africa to the EU that owns all stages of the production chain.

Murray Grant, Actis partner, said the company has tripled in size since it was acquired by the buyout firm.

Finlays is owned by conglomerate John Swire and Sons.
In recent months buyout activity has been on the increase in Africa. Last week, Pamodzi raised the first ever billion dollar fund in the continent focused on South Africa and the Sub Sahara.