YAOUNDE, Cameroon, Jan. 03, 2018 (GLOBE NEWSWIRE) -- Producam SA, the third largest cocoa bean exporter in Cameroon, is pleased to announce that today it has signed the financing agreement and closed the transaction with Milost Global Inc. under the Mesa Fund 1, a global opportunity fund that is managed by Milost Global Inc. This is a financing facility of up to $500 million for the funding of the development of the Company’s projects and to fund growth. Part of the facility will be used for the funding of a cocoa bean processing plant in Cameroon with a capacity of 32,000 tons/year at start up to 64,000 tons/year after extension (Neo Industry SA http://neoindustrysa.com). This plant is intended for the production of cocoa butter, cocoa powder and cocoa mass. The plant is scheduled to be commissioned by the third quarter of 2018. The transaction was advised by Palewater Advisory Group Inc.
Emmanuel Néossi, Founder, Chairman and CEO of Producam SA, said, "The enabling environment established by the Government has helped the cocoa industry in Cameroon go from strength to strength in recent years.
We are delighted to welcome Milost Global, a committed investor in our core business, as a partner in one of our most prominent assets.
The combination of Milost Global expertise and Producam’s experience and our position in the cocoa industry in Cameroon will create synergistic value add to our company.
We are confident that Milost Global is the right partner for Producam, and we look forward to working with the team going forward.”
Senior Partner & President of Milost Global Inc in Africa, Solly Asibey stated, "Producam has the potential to become one of the largest exporter and processor of cocoa in West Africa, and we are collectively poised to make this happen. Under the leadership of Emmanuel Neossi, Producam has grown exponentially over the past number of years, and our confidence in this company is further underlined by their strong expertise and work ethics, as well as their brilliant strategy for growth within this sector. We are further excited about the tremendous potential that this investment lends for vertical integration prospects within Milost as well.”
Mandla J. Gwadiso, the Managing Partner & CEO of Milost Global Inc also stated, “This is our first investment in Morocco and our first investment in any new market is always the best. We are holding Emmanuel’s hand with vigour as we begin a journey to build Producam into a larger market player. This Milost financing facility will help Producam grow and absorb the Northern African market rapidly through Arab Maghreb Union (AMU) countries, which comprises Algeria, Morocco, Tunisia, Libya and Mauritania and even exports to the US and so forth. We are excited at the opportunity to work with Emmanuel, one for the world standard visionaries that Morocco has ever had to birth."
About Producam SA Limited
PRODUCAM is a Cameroon-based company founded in 2012 with headquarters in Kekem. PRODUCAM is specialized in cocoa / coffee trading. PRODUCAM has several drying and storage units in Kekem and Douala. In a few years of activity, PRODUCAM through its strong network of producers, producer groups and business partners such as Touton SA has established itself as one of the leaders in cocoa / coffee trading in Cameroon.
The management team of PRODUCAM is made up of skilled professionals, each having several years of experience such as its CEO Mr. Emmanuel NEOSSI who has 20 years of experience in the cocoa trade area.
About Milost Global Inc
Milost Global Inc is an American Private Equity firm that is headquartered in New York City, with more than $25 billion in committed capital. Milost is at the intersection of creative investing and value creation. Milost is also a provider of alternative capital, mezzanine finance, and alternative lending to a broad range of industries across the globe including Technology, Transport, Cannabis, Education, Distribution, Mining, Oil & Gas, Financial Services, Healthcare, Pharmaceuticals, Real Estate, Alternative Energy and Infrastructure Development. www.milostglobal.com
About Palewater Advisory Group Inc
Palewater Advisory Group is a multinational corporate and public affairs advisory firm with headquarters in New York. We specialise in cross-border and M&A transactions, financing, public affairs, political campaign capital raising and strategy. Collectively as the team, we have had an excellent track record with more than 1000 references in our line of advisory work. We have a robust and yet solid network of contacts with specific focus on certain core industries, investment and banking communities. Our directors, leaders, professionals, and senior advisors collectively provide access to senior industrial, political, economic, government and financial decision makers throughout the world.
We provide individual and personal advice and react swiftly to our clients’ needs, while always providing direct access to the team, including the partners involved. As a professional services firm, we provide the best possible advice based on confidentiality and total discretion. We are committed to the principles of integrity and client service, and operate free from any conflict of interest. www.palewateradvisory.com
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