Middle East and North African (MENA) tissue manufacturer FINE said today that it will use $175 million invested by a Standard Chartered Private Equity (SCPE) lead consortium to expand its production capacity.
SCPE, which is getting a significant minority stake in FINE, will be granted two board seats and will provide input on FINE’s growth strategy in core markets, African expansion and an eventual initial public offering.
Regional Head of MENA Private Equity & Head of Global Private Equity Portfolio Management at SCPE Taimoor Labib said his organization is delighted to partner with FINE.
“FINE’s active ownership, high quality management team, iconic brand, transparency and independent governance make it one of the leading consumer brand companies in the MENA region,” Labib said. “We look forward to working with our partners and helping the company and group achieve its long-term strategic objectives.”
FINE is the region’s leading brand in hygienic paper products and one of the most recognized facial and personal tissue brands in the Middle East. The company’s majority owner is the Nuqul Group of Jordan, where it is headquartered. The company is fully integrated, with a widespread manufacturing base throughout the Gulf Council countries, Levant and North Africa.
