From Ventures Africa.
Nairobi-based private equity firm Catalyst Principal Partners has bought a 50 percent stake in Yes Brands Food & Beverages, an Ethiopian bottled mineral water company.
“With its dynamic economy and population of 85 million, the second largest in Africa, Ethiopia is an attractive market for emerging players within the consumer sector and represents a compelling investment opportunity,” said Catalyst Managing director Rajal Upadhyaya.
Catalyst announced in November it had raised $125 million for investment in East Africa. The firm said at its website it is focused on deploying capital and building a high performance investment portfolio across Eastern Africa including in Kenya, Uganda, Tanzania, Ethiopia, Rwanda and Democratic Republic of Congo, according to Catalyst CEO, Paul Kavuma. The fund says it has staked out deals targeting emerging mid-market businesses with strong potential to grow into leading brands.
Catalyst recently invested in two Tanzania companies; ChemiCotex Industries, maker of personal care products and Chai Bora, a tea packaging company, according to the report.
Read more at Ventures Africa.