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Monday, August 7, 2023



Africa's No. 1 Food & Beverage Industry Magazine & Website



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Breaking News
 * Arla Foods’ MicelPure receives first Non-GMO project certification
 * Kenyan officials recover 16 tonnes of milk powder in Nairobi
 * Tata NourishCo expands beyond water space into spaces with saffron
 * Dairy and plant-based industry grapple over FDA’s plant-based milk labelling
   guidelines
 * CIP and KALRO release climate-adaptive and nutritious, purple-fleshed sweet
   potato variety in Kenya
 * Mezcal bottles stuffed with 9.5 tons of liquid meth impounded in Mexican
   Manzanillo Port
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   of this year
 * Monster Beverage completes acquisition of Bang Energy
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 * Home
 * LATEST NEWS
 * British private equity fund Actis advances talks for Java House divestment to
   Private equity firm Adenia Partners


BRITISH PRIVATE EQUITY FUND ACTIS ADVANCES TALKS FOR JAVA HOUSE DIVESTMENT TO
PRIVATE EQUITY FIRM ADENIA PARTNERS

February 7, 2023February 7, 2023


KENYA – UK-based private equity fund Actis has reached advanced talks with Java
House’s potential buyer in a deal that could be valued at between Sh2.5 billion
(US$18.4m) and Sh3 billion (US$24m), according to a person familiar with the
negotiations.

The sources said the buyer of all shares in Java, Mauritius-based private equity
firm Adenia Partners, is after investing and taking over some of Africa’s most
promising businesses to set their foothold tight on the continent.

“Adenia is offering to buy Java. The deal is estimated to be around Sh2.5
billion to Sh3 billion and talks are looking good,” the source who sought
anonymity told BusinessDaily.

Actis put Java up for sale three years after it was acquired from Dubai-based
Abraaj Group. The sources noted the PE valued the casual dining and coffee chain
at $40 million (Sh4.9 billion).

For Adenia, the transaction of Java will deepen its presence in Kenya after
acquiring stakes in retail chain Quickmart in 2019, Reds Land Roses which deals
in fresh cut roses, heavy construction equipment dealer Kanu Equipment and
Africa Biosystem Limited—which deals in health kits.



According to Business Focus, the sale is expected to cement Kenya’s reputation
as a high-return market that offers exit routes for Private Equity (PE) funds
and development finance institutions (DFIs).

Most PE funds and DFIs have exited by selling to similar funds, indicating a
strong demand from institutional investors that pool funds from wealthy
families, pension funds, and governments.

The restaurant industry in Kenya has seen significant growth in recent years,
driven by rising disposable household incomes, fast economic growth, and a young
population.

This has attracted global players such as KFC, Subway, Burger King, Cold Stone
Creamery, Toridoll, and Domino’s Pizza to open more stores in Kenya.

These global players are turning to emerging markets such as Africa for growth,
attracted by a rising middle class, according to a study by McKinsey.

Local chains such as ArtCaffe have not been left behind in this rapid expansion,
taking a portion of Java House’s market share.

Java is the biggest restaurant chain in the region with 82 outlets, followed by
Chicken Inn (72), Artcaffe (35), KFC (33), and Burger King (5). Besides Kukito,
Java House Group runs Java restaurants, Planet Yogurt (PY), and 360 Degrees
Pizza.

Despite the fast-food chains and Hotel industry showing signs of sluggish
recovery from the Covid-19 hit and economic downturn, Actis inked a deal to buy
Nairobi’s Fairview Hotel, Town Lodge, and City Lodge in Two Rivers for an
estimated Sh1 billion from City Lodge.

This proves that PE funds are playing an important role in backing local modern
chains and industries that could have otherwise collapsed.

Kasada Hospitality Fund, which is backed by the Qatar Investment Authority (QIA)
— the country’s sovereign wealth fund—last year fully acquired Crowne Plaza
Hotel for an estimated Sh4.6 billion.

In addition, Saudi billionaire Prince Al-Waleed bin Talal sold his stake in The
Norfolk and Fairmont Mara Safari Club to a Nepalese tycoon for Sh2.8 billion.

For all the latest food industry news from Africa and the World, subscribe to
our NEWSLETTER, follow us on Twitter and LinkedIn, like us on Facebook and
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AFRICAN NEWS, LATEST NEWS, Mergers & Acquisitions


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AfDB, Canada launch fund to support Africa’s small and medium-sized enterprises
AFD grants Nigeria US$1.3 million to develop agricultural markets, Gabon
contracts India to set up first high-productivity agricultural zone


MORE NEWS ARTICLES

 * August 7, 2023
   
   ARLA FOODS’ MICELPURE RECEIVES FIRST NON-GMO PROJECT CERTIFICATION
   
   DENMARK – Danish dairy giant, Arla Foods, has had...
   
 * August 7, 2023
   
   KENYAN OFFICIALS RECOVER 16 TONNES OF MILK POWDER IN NAIROBI
   
   KENYA  – An operation led by the Directorate of...
   
   
 * August 7, 2023
   
   TATA NOURISHCO EXPANDS BEYOND WATER SPACE INTO SPACES WITH SAFFRON
   
   INDIA – Tata NourishCo, a subsidiary of Tata Consumer...
   
   




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 * Arla Foods’ MicelPure receives first Non-GMO project certification
 * Kenyan officials recover 16 tonnes of milk powder in Nairobi
 * Tata NourishCo expands beyond water space into spaces with saffron
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   guidelines
 * CIP and KALRO release climate-adaptive and nutritious, purple-fleshed sweet
   potato variety in Kenya


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