Fan Milk is a Ghana based manufacturer and retailer of ice cream and frozen dairy products, In July 2019,

Danone Danone S.A. () is a French multinational corporation, multinational food-products corporation based in Paris. It was founded in 1919 in Barcelona, Barcelona, Spain. It is listed on Euronext Paris, where it is a component of the CAC 40 stock mark ...

, previously a joint shareholder with The Abraaj Group, increased its stake to 100% and thus assumed complete ownership of the company.

History

Fan Milk Limited is a

Ghana Ghana, officially the Republic of Ghana, is a country in West Africa. It is situated along the Gulf of Guinea and the Atlantic Ocean to the south, and shares borders with Côte d’Ivoire to the west, Burkina Faso to the north, and Togo to t ...

ian

dairy A dairy is a place where milk is stored and where butter, cheese, and other dairy products are made, or a place where those products are sold. It may be a room, a building, or a larger establishment. In the United States, the word may also des ...

retailer based in

Accra Accra (; or ''Gaga''; ; Ewe: Gɛ; ) is the capital and largest city of Ghana, located on the southern coast at the Gulf of Guinea, which is part of the Atlantic Ocean. As of 2021 census, the Accra Metropolitan District, , had a population of ...

that's listed on the Ghana Stock Exchange and the GSE All-Share Index. Since its inception in 1960 the company has commenced operations in

Benin Benin, officially the Republic of Benin, is a country in West Africa. It was formerly known as Dahomey. It is bordered by Togo to the west, Nigeria to the east, Burkina Faso to the north-west, and Niger to the north-east. The majority of its po ...

Togo Togo, officially the Togolese Republic, is a country in West Africa. It is bordered by Ghana to Ghana–Togo border, the west, Benin to Benin–Togo border, the east and Burkina Faso to Burkina Faso–Togo border, the north. It is one of the le ...

and

Burkina Faso Burkina Faso is a landlocked country in West Africa, bordered by Mali to the northwest, Niger to the northeast, Benin to the southeast, Togo and Ghana to the south, and Ivory Coast to the southwest. It covers an area of 274,223 km2 (105,87 ...

. Previously known as the Ghanaian Milk Company, they ascertained Danish investment in the early 1960s and initially specialized in pasteurised milk. However, in 1962, the company changed its name to Fan Milk Limited and branched out into the production of

ice cream Ice cream is a frozen dessert typically made from milk or cream that has been flavoured with a sweetener, either sugar or an alternative, and a spice, such as Chocolate, cocoa or vanilla, or with fruit, such as strawberries or peaches. Food ...

yoghurt Yogurt (; , from , ; also spelled yoghurt, yogourt or yoghourt) is a food produced by bacterial fermentation of milk. Fermentation of sugars in the milk by these bacteria produces lactic acid, which acts on milk protein to give yogurt its tex ...

ice lollies Ice is water that is frozen into a solid state, typically forming at or below temperatures of 0 ° C, 32 ° F, or 273.15 K. It occurs naturally on Earth, on other planets, in Oort cloud objects, and as interstellar ice. As a naturally occur ...

and other frozen dairy products. Fan Milk Limited was the first foreign-invested company in Ghana to become a Public Limited Liability in 1967 and among the first companies to be listed on the Ghana Stock Exchange on 18 October 1991 with the symbol FML. As of 2003, it had over 3,250 shareholders.

Ownership

As of December 2003, Fan Milk's top shareholders were Fan Milk International Denmark with 7,365,955 shares as in 37.23%, the Danish Industrialization Fund For Developing Countries with 4,954,420 shares as in 25.04%, and Enterprise Insurance with 1,978,472 shares being 10% of the company. At that stage Fan Milk International Denmark, the Danish Industrialization Fund for Developing Companies and Enterprise Insurance each owned a 37.23%, 25.04% and 10% stake of Fan Milk Ghana respectively. In 2013, The Abraaj Group and

became joint owners of Fan Milk, obtaining a 51% and 49% stake in the company, respectively. Danone eventually became a majority shareholder in 2016. On July 30, 2019, Danone acquired Abraaj's remaining 49% shares, increasing its stake to 100% and thus assuming complete ownership of the company.

Products

*Fanice (150mL Pouch) *FanGold *FanYogo (Strawberry, mango & passion) *FanChoco *FanDango *FanVanille (Togo, Benin) * Fanmaxx (Ghana) * FanYogo (Strawberry, Banana Flavour)

References

External links

Fan Milk Limited Official Website
*
Google Finance listing for Fan MilkFan Milk at Alacrastore
*Fanmilk Ghana PLC Official website {{Economy of Nigeria Food and drink companies of Ghana Ice cream brands Companies based in Accra Food and drink companies established in 1960 Companies listed on the Ghana Stock Exchange Companies in the GSE Composite Index Nigerian companies established in 1960