Dubai's Abraaj acquires majority stake in Wine Connection Group

Singapore

DUBAI buyout firm, The Abraaj Group, has acquired a majority stake in South-east Asia's food and beverage (F&B) chain, Wine Connection Group. This is the private equity investor's fourth such investment in the region.

The Abraaj Group said its investment in Wine Connection aligns with its strategy of investing in companies in growth markets - one that centres around consumerism among a growing middle income crowd in various sectors including hospitals and education.