KENYA – Private equity firms Alterra Capital and Phatisa Group have announced their agreement to acquire Nairobi-based coffee and casual dining group Java House from London-based Actis, marking its fourth ownership change since 2012.
Alterra is set to acquire a majority stake in Java House, while Phatisa will hold a minority share with control rights, according to a notice from the COMESA Competition Commission.
Specific details of the transaction beyond the shareholding structure were not disclosed.
According to the notice, the acquisition will allow the seller to exit and realize its investment, while Alterra and Phatisa aim to gain controlling stakes in Java House and support its business growth.
Actis, which previously owned Java House, expressed its intention to exit the business in 2023, considering options including a potential IPO.
At that time, Actis was in the process of being acquired by General Atlantic, an American firm. The acquisition of Actis by General Atlantic was completed in early 2024, adding Actis’ US$12.5 billion in assets to General Atlantic’s portfolio.
Phatisa Group, established in 2005, focuses on investments across the food value chain in countries such as the Democratic Republic of Congo, Kenya, Malawi, Mauritius, Seychelles, and Zambia.
Alterra Capital, founded in 2022, holds interests in sectors including food and beverages, hospitality, retail, telecommunications, technology, financial services, consumer products, infrastructure, and logistics.
Both Alterra and Phatisa emphasized that their businesses do not overlap with Java House Mauritius, ensuring that the deal would not reduce competition in the market.
Java House, originally founded in Kenya in 1999 by two Americans, was acquired by Emerging Capital Partners (ECP) in 2012.
ECP expanded the chain, adding 47 outlets across Kenya, Uganda, and Rwanda.
In 2017, Dubai-based Abraaj Group acquired Java House for over US$100 million, and following Abraaj’s liquidation, UK-based Actis took control of the brand in 2019.
In 2022, Java House appointed Priscilla Gathungu as its first Kenyan CEO, currently leading the company.
Java House Group now operates 73 branches in Kenya, Uganda, and Rwanda, in addition to owning brands like Planet Yogurt, Sixty Degrees Pizza, Kukito, and Foodscape Africa.
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