Alterra and Phatisa acquire Actis' stake in Java House
Private equity firms Alterra and Phatisa have signed agreements to acquire 100% of Java House Africa.
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Private equity firms Alterra and Phatisa have signed agreements to acquire 100% of Java House Africa from emerging-market investor Actis, for an undisclosed sum.
Founded in 1999, Java House has grown into a household name, offering coffee and a diverse menu to customers across Kenya, Uganda, and Rwanda. The company operates a network of almost 100 outlets through brands including Java House, Java Express, 360 Degrees Pizza, Planet Yoghurt, and Kukito. The company also operates a vertically integrated commercial kitchen, coffee roastery, food service and distribution platform, serving over 5.5 million meals per annum and employing over 2,300 people.
Eric Kump, partner at Alterra, commented: “Java House is a premier brand in East Africa’s casual dining sector. Our investment is focused on unlocking new growth opportunities, expanding market reach, and reinforcing Java House as a leading brand in the region.”
Asif Noorani, principal at Phatisa, added: “With a well-established presence and a robust operating model, Java House is well-placed to capitalise on increasing demand for high-quality, convenient dining options. Our partnership will enable Java House to enhance its reach and impact across East Africa.”
David Cooke, partner at Actis, remarked: “Having navigated the Covid-19 pandemic, Java House’s all-women management team has delivered remarkable sales growth, and they have sustainably extended the brand’s footprint to almost 100 outlets across East Africa. We wish them and the new owners all the best in the next phase of Java House’s development.”
Priscilla Gathungu, CEO of Java House, said: “At Java House, we believe that business growth and social responsibility go hand in hand. This investment will enable us to expand our footprint while continuing to invest in sustainable sourcing and job creation. Our commitment to serving our communities remains steadfast as we look to the future.”
The transaction has received all regulatory approvals. Lead advisors to Phatisa and Alterra included White & Case and ENS Africa (legal), Anjarwalla & Khanna (competition), EY (financial and tax) and ERM (ESG). Lead advisors to Actis and Java House were Flamingo Capital Partners (transaction) and Bowmans (legal and competition).
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