Dune Packaging secures strategic investment from private equity fund Ascent

As part of the transaction, Ascent aims to support Dune Packaging's innovation, expansion into new markets, and enhancement of its environmental, social, and governance (ESG) credentials.

Rohin Chandaria, CEO of Dune Packaging, expressed his enthusiasm about the partnership, stating, "We welcome Ascent Capital Management Africa II as our strategic partner and investor. Their investment not only validates our market leadership but also provides us with the resources and expertise to pursue our growth objectives ambitiously."

Vinod Bussawah, Director at Ascent Capital Management Africa II Ltd, commented on the transaction, saying, "We are excited to partner with Dune Packaging, a company with a strong track record of delivering high-quality packaging solutions. This investment aligns with our strategy of backing exceptional businesses with significant growth potential."

The Transaction was facilitated by Tradeways, a specialist advisory boutique focusing on the Middle East and Sub-Saharan Africa. Legal advisory services were provided to Dune Packaging by Bowmans, while DLA Piper Africa, Kenya (IKM Advocates) supported Ascent in the transaction process.

Uday Bhasin, Managing Director of Tradeways, praised the collaboration, stating, "Executing transactions of this nature have their inherent challenges."

"However, in this instance, it was a pleasure to help the well-organized shareholder group in defining their strategic vision and guiding the execution of this transaction," added Bhasin.

With Ascent's financial backing and strategic guidance, Dune Packaging is poised to capitalize on Africa's growing packaging industry and solidify its position as a packaging powerhouse in Kenya and beyond.

This investment is expected to accelerate Dune Packaging's growth trajectory and contribute to the development of the packaging industry in East Africa.