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Schulze Global Investment Limited, an American private investment firm, has bought 45 percent of stakes in Ethiopian Family Milk PLC. The acquisition enables further product expansion of the dairy firm.
Speaking at a ceremony held on Thursday, Greg Metro, Managing Director of Schulze Global Investment in Ethiopia said,   “we’re excited by the acquisition of Family Milk and we will build the leading dairy company in the country.” The founder of Family Milk PLC. Mechal Argaw said the company  decided to work with Schuluze,  “due to its tremendous value-added capability and strong partnership values.”
State Minister of Industry Dr. Mebrahtu Meles applauded the acquisition and said, “some months ago, Fonterra has partnered with Ethiopian nutrient foods manufacturer Faffa Foods and today’s partnership is testimony of how the dairy business is so promising in Ethiopia.’’
Currently, Schulze works in food processing, construction, pharmaceuticals, coffee and education in Ethiopia. Family Milk has long-term local supply contracts with Ethiopian Airlines and different hospitals and government agencies.