The UAE-based Abraaj Group has revealed that it acquired a majority stake in the Colombian QBCo SAS, according to a press release.
The Emirati company has acquired the food manufacturing company in Columbia through one of its funds.
Abraaj will bolster QBCo to obtain a stronger domestic and regional market share, in line with focusing on new products and geographic expansion, according to Abraaj’s official website.
The statement mentioned that the Colombian company offers up to 55 products to over 150 clients in Colombia, Panamá, Ecuador and the United States.
QBCo production facilities in Buga, Valle del Cauca, employs around 400 staff, the statement added.
The statement further indicated that this is Abraaj’s fourth investment in Colombia.
Abraaj had announced earlier this month that it invested in Pakistan-based leading cinema operator Cinepax Limited.