Amethis completes majority investment in the Kazareen Textile Group, a leading textile manufacturing group in Egypt
Cairo and Paris – February 4, 2025
Amethis, through its pan-African fund Amethis Fund III, has completed its first transaction, acquiring a majority stake in the Kazareen Textile Group (KTG).
Founded in 1990 in Egypt, KTG is a leading vertically-integrated textile manufacturer focused on the B2B segment and generating the majority of its revenues from exports to Africa, Europe, and the GCC in four complementary business lines: apparel, hospitality linens targeting luxury global hotel groups, textile accessories & knitted fabrics. KTG also distributes branded corporate promotional wear and workwear in Germany, France, Austria and Switzerland. The group, which is headquartered in the UK, has a manufacturing footprint of 7 facilities in Egypt as well as operating subsidiaries in Canada, France, and Germany.
Amethis’ investment in KTG will support the group’s ambitious expansion plans across its business lines while maintaining its high-quality environmental, social and governance (ESG) standards.
Sam Abboud, KTG’s shareholder and CEO, stated: “We are delighted to partner with Amethis at this point in the history of the group. We have great optimism for our positioning in Egypt in the coming years and are confident that a partner like Amethis will significantly support our strategic plans for growth, ESG commitments while protecting shareholder value. Over the last year, the team at Amethis built an amazing relationship with our management and shareholders, setting the stage for an exciting journey together in the coming years.”
Toufic Khoueiry, Partner at Amethis, stated: “Egypt’s textile sector is well positioned for significant export growth driven by Egypt’s geographic location, favorable trade agreements and growing cost-competitiveness compared to other manufacturing bases. Amid this positive backdrop, our investment in KTG is aimed at backing one of the most dynamic and ambitious B2B players in this sector, run by a fantastic management team, all the while sustaining the group’s positive impact across various key areas including working quality and energy efficiency, among others.”
Amethis was advised by Baker McKenzie, Ibis, PwC and Werner International while KTG’s shareholders were advised by Fladgate and Investec.
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About KTG
KTG is a UK-based vertically-integrated textile group. Founded in 1990 in Egypt, the group started as a manufacturer of specialty uniforms and hospitality & home textiles for the GCC market. Today, and through its manufacturing and distribution subsidiaries, KTG moves millions of apparel products across the globe, supplies other apparel manufacturers with thousands of tons of fabric, and supplies and supports over 50,000 hotel rooms yearly. KTG prides itself with a deep commitment to Environmental, Social, & Governance, inclusive management, and Corporate Social Responsibility.
To find out more about KTG, please visit www.kazareentextilegroup.com.
About Amethis
Founded by Luc Rigouzzo and Laurent Demey, and member of Edmond de Rothschild Private Equity Partnership, Amethis is an impact-oriented private equity firm focusing on financial, environmental and social sustainability on the African and European continents. With assets under management of over €1 billion, Amethis has made more than 40 investments to date.
Amethis provides growth capital to promising mid-sized champions in a variety of sectors, offering growth support through its international network covering Europe and Africa as well as systematic improvement of their environmental and social impacts. With six offices in Paris, Abidjan, Casablanca, Nairobi, Cairo and Luxembourg, the Amethis team includes 50 experienced professionals with strong regional and sector expertise.
To find out more about Amethis, please visit www.amethis.com.
About Edmond de Rothschild Private Equity
Edmond de Rothschild Private Equity (EDRPE) is an independent entity within the Edmond de Rothschild Group with more than CHF 3.6 billion in assets under management. Driven by an entrepreneurial approach to finance, supported by strong convictions, Edmond de Rothschild Private Equity builds and designs unique investment strategies to provide a long-term response to environmental and social challenges. Founded in 1953, the Edmond de Rothschild Group currently has €158 billion in assets under management as at 31 December 2022, 2,500 employees and 29 offices worldwide.
To find out more about Edmond de Rothschild and EDRPE, please visit www.edmond-de-rothschild.com.