North Africa



Deal type

Management buy-in

Investment date


Exit date


Status date


A family legacy

Poulina Group Holding (‘PGH’) was founded in 1967 by five different families. It has since grown into the largest private group in Tunisia, with a considerable footprint across the Maghreb region. It has diverse interests across a range of industries, including branded food, retail and building products, but is known primarily for its poultry business: an industry Poulina pioneered in Tunisia.

The group has today expanded into Algeria, Libya, Morocco, Europe and China, incorporating 97 subsidiaries and employing 14,000 people. In 2008, PGH decided to go public, prompting the need to address succession issues, fund further regional growth, and give more visibility to the Group. Actis became the cornerstone international investor in Poulina's IPO, which opened up half of the 10% floated capital to international shareholders. For Actis, this was an opportunity to buy into one of the leading diversified groups in the Maghreb, and associate itself with an important brand.

The IPO has helped the group identify strategic partners and plan resources to implement regional expansion projects. Actis assisted the management team in building its corporate governance practices as it transitioned from family-owned to public status.

Actis exited Poulina in August 2012. Mr Ben Ayed, Founder and Chairman of Poulina said at the time: “Actis has been a valuable partner during interesting times; we are grateful for their contribution and now continue our work of building a sustainable and successful future for Poulina.”