27/01/2019 – News / Business / Acquisitions / Group Duval / Africa Global Recycling
Groupe Duval acquires stake in Africa Global Recycling (AGR)
Éric Duval (CEO and Founder) and daughter Pauline Duval (Chief Executive)
French family-owned real estate player Groupe Duval has acquired a 20-per-cent equity holding in Africa Global Recycling (AGR) – a key player of the green economy and waste-recycling sector in sub-Saharan Africa.
Founded in 2013 in Lomé, Togo, AGR sorts and sells waste so that it can be transformed. And acquiring an equity holding in AGR illustrates Groupe Duval's desire to strengthen its position as a key waste recycling actor on the African continent.
"We are proud to support an actor as committed and pioneering as AGR,” remarked Éric Duval, President and Founder of Groupe Duval. “We are particularly excited about being able to assist it with its growth. The company has a unique positioning thanks to its operational excellence and its ability to have made selling waste attractive by creating a virtuous purchasing circle with businesses and local authorities.”
Mr Duval continued that being a family group probably made his business even more aware of the importance that must be afforded to the environmental and societal context of which the group forms a part and in terms of what it wanted to pass on to future generations. “Our world is changing. Our family spirit leads us to focus great attention on the world that surrounds us and on the challenges of sustainable development that are connected to it. This is therefore and above all the sense of acquiring this strategic stake."
Edem d'Almeida, co-founder of AGR, added: "Our company which currently has 50 employees, is growing strongly and has pan-African ambitions. We are delighted to welcome Groupe Duval's contribution to the company's equity aimed at assisting us in a new stage of our development. The presence of a key partner with which we share common values, is important to provide our company with both the financial and human resources to continue its very strong growth."
Founded by Eric Duval and co-led with his daughter Pauline Duval, Groupe Duval today has 3,000 employees and turnover of €700 million.