.gif "Cash Connect")
Private equity firm buys into Ethiopian drink maker
FMCG SUPPLIER NEWS
The-Star.co.ke - Jul 16th, 08:32
Kenya-based private equity firm Catalyst said it had acquired a 50 per cent stake in Ethiopian food and drink maker Yes Brands to tap into the Horn of Africa nation's large population and fast economic growth.
Mauritius-registered Catalyst Principal Partners raised $125 million (Sh10.3 billion) last year for its Catalyst Fund 1 to be invested in consumer growth-related opportunities in a region with some of the world's fastest growing economies.
Paul Kavuma, Catalyst's chief executive, said it would build on the strength of Yes Brands in mineral water bottling by investing in operational capacity and product distribution.
The value of the deal was not disclosed due to confidentiality clauses in the agreement. Officials in Addis Ababa said last year they expected Ethiopia's economy to expand by 11 per cent in the 2012/13 fiscal year. Catalyst is also looking to invest in East Africa's property market, Kavuma said last month. From The-Star.co.ke
Related News
Nakumatt eyeing East Africa's hospitality sector
18/10/2013 - 08:47
Nakumatt is targeting new sales within the hospitality industry by offering select label products like furnishings, decorative accessories, bath towels, bed and table linen. according to the supermarket chain's business development manager Neel Shah.
Glassmaker expands in Africa to boost revenue, Kenya
16/10/2013 - 11:38
East Africa Glassware Mart plans to double its revenue to $34 million (Sh2.9 billion) by opening in 10 new markets within Africa over the next three years.
Bacardi opens first African office in Kenya
10/10/2013 - 12:32
The World’s largest privately held spirits company, Bacardi Limited is set to open its first African sales outlet in Nairobi, Kenya on Tuesday following the growing demand for luxurious goods such as alcoholic beverages by consumers.
East Africa Breweries Limited posts 6% annual sales increase
10/10/2013 - 11:27
East African Breweries Limited (EABL) in August said it posted “good results” in the year to June despite tough operating conditions in markets such as Uganda and Tanzania.
Distell taps into China's cognac market
09/10/2013 - 10:23
Johannesburg - South African liquor company Distell Group Limited [JSE:DST] has acquired a 60% share in fast-growing liquor distribution company CJ Wines & Spirits‚ expanding its presence in the East.
