Adenia Partners to Buy Majority of Egypt's Parkville Pharmaceuticals

Africa-focused private equity firm Adenia Partners has signed definitive agreements to acquire a majority stake in Cairo-based Parkville Pharmaceuticals, marking its first majority investment in Egypt. The stake is being acquired from Admaius Capital Partners, Parkville Chairman Dr Sherif Bassiouny and CEO Dr Mahmoud Farrag, subject to customary closing conditions and regulatory approvals. Financial terms of the transaction were not disclosed.

Founded in 2008, Parkville Pharmaceuticals operates across pharmaceutical, cosmeceutical and nutraceutical segments, with a portfolio that spans skincare, haircare, deodorants, wellness products and therapeutic lines. The company runs a production facility in Alexandria and exports to several regional markets.

Adenia said it will partner with Parkville’s founders and management to support the company’s next phase of expansion, with a focus on strengthening its product portfolio, accelerating digital and e-commerce capabilities, and expanding further across regional markets

“This investment reflects our conviction in Egypt’s long-term fundamentals and in the strength of locally built champions. We look forward to working closely with Parkville’s founders and management team in the next phase of its growth,” Heba Hakky, Principal at Adenia Partners, said.

Adenia has raised over $1 billion across five funds and co-investments, with over 35 platform investments and 21 realised exits. Parkville operates a production facility in Alexandria and exports to several regional markets. Advisors on the transaction included Baker McKenzie as legal counsel to Adenia; Zilla Capital as sole financial advisor to the existing shareholders; and Matouk Bassiouny as legal counsel.