The Abraaj Group have released a statement revealing they have signed a definitive agreement to fully acquire Java House Group from private equity firm Emerging Capital Partners (ECP) and Java’s founder and chairman Kevin Ashley.
In 2012, Emerging Capital Partners acquired a majority stake in Java House Group, which had been established in Nairobi in 1999, with the founder retaining a minority stake.
The acquisition helped Java House grow from 13 shops in Nairobi to 60 stores across 10 cities in Kenya, Uganda and Rwanda.
The company has three flagship brands, namely coffee-led, all-day casual dining concept Java House, the region’s first self-service frozen yogurt chain Planet Yogurt, and Italian pizzeria concept 360 Degrees Artisan Pizza.
Java House currently serves over 320,000 guest checks per month, offering food and drinks covering 25 different food categories, and employs 2000 people.
Abraaj, in partnership with the management team, plan to leverage Java House’s market leadership position and strong heritage to grow the Company into the leading pan-African casual dining / food services platform, expanding into new markets and through acquisitions. Together, they will build a leading home-grown African casual dining and foodservice group across East, West and North Africa.
“As Java House aims to accelerate into its next phase of growth, we were seeking a partner that has the scale, platform and sector expertise to enable us to achieve our aspirations. The Abraaj Group is that partner of choice and we look forward to working closely with their team to extend our market leadership position across the continent.
“Java House has had an extraordinary journey since its founding in 1999 and we are passionate about creating unique and innovative experiences for our customers everywhere. Emerging Capital Partners has been a critical catalyst in our growth story and we extend them our sincere thanks as we look ahead to an exciting future with our new partner.” – Ken Kuguru, Java House CEO
“Africa’s rapidly expanding middle class, sustained population growth, and increasing urbanisation is creating compelling investment opportunities in multiple sectors, and we believe Java House is ideally positioned to benefit from these trends,” managing partner and global head of Private Equity at The Abraaj Group Mustafa Abdel-Wadood added.