A South African billionaire family popularly known as Oppenheimer has acquired a controlling stake in one of Nigeria’s prominent can makers, GZ.

The acquisition was completed by Jonathan Oppenheimer, one of the sons of the second richest man in Africa, Nicky Oppenheimer, who reportedly secured the full control of GZ Industries Ltd., Nigeria’s prominent beverage can manufacturer, signaling a bet on the potential revitalization of Africa’s largest economy.

According to a report by Bloomberg, the acquisition of the remaining shares in GZ Industries from Affirma Capital (formerly Standard Chartered Private Equity) was completed through their company, Oppenheimer Partners Limited.

Although the financial specifics of the deal remain undisclosed, the private equity firm had held a significant 37.5% stake in GZ Industries, a key supplier of cans to major entities such as Coca-Cola Co.

GZ first began operations in Nigeria in 2019. Ayodeji Adelakun is the Executive Director and Group Chief Executive Officer of the company.

This move is poised to empower Jonathan Oppenheimer to steer the trajectory of GZ Industries’ expansion within sub-Saharan Africa.
The Reason for this acquisition is that most of the raw materials used in producing Aluminum cans and Aluminum Roofing sheets are made from Petroleum coke which is a derivative of Crude Oil
This is a strategic move as this positions the company to become one of the biggest players on the West African Sub Region
This is a clear indicator that the big players in the investment circles are getting ready to maximize the huge benefits from the coming on stream of both the Dangote Refinery and Port Harcourt Refinery

https://punchng.com/south-african-billionaire-family-buys-nigerias-top-can-maker-firm/

This December will be one to remember,the Big boys are coming to town and it seems they are catching Everyone unaware.
Over the past ten years,a lot of Companies have closed shop in Nigeria due to a lack of favorable environment.
The only news we seem to hear of late is raising unemployment and riffling Hunger across the Land,but something is taking place in the midst of all this chaotic disposition
The Dangote Refinery,like a magnet is gradually drawing some little flicker of hope into our country.
Our Industrial Revolution as a country will start when the Refinery kicks starts production and the Oppenheimer Family just cut a very large slice of that cake
I encounrage every Nigerian who can afford it to seriously consider getting in on the action around the Ibeju Lekki Industrial Hub
Refuse to be an onlooker as people are already positioning to get a slice of the pie
Kindly visit the link to learn more about our estates
God bless

G