Abraaj Group buys majority stake in Nigerian firm

Dubai: Private equity group Abraaj has bought a majority stake in Mouka, a Nigerian mattress manufacturer, and plans to expand the business further into the West African market, the firm said on Tuesday.

The acquisition is through one of Abraaj’s funds, in partnership with Moukarim Family, the founding family of Mouka who will retain a minority stake in the company. No purchase price or a stake size was given.

Mouka has 500 distributors for its mattresses in Nigeria.