Published: May 28, 2012
Africa-focused private equity firm backs Nairobi Java House.
Emerging Capital Partners (ECP), a pan-African private equity firm, has invested in Nairobi Java House, a café and restaurant operator in Kenya.
Nairobi Java House is a 13-year-old company with outlets across the capital city, serving African-grown coffee and international food. It also owns Planet Yogurt, a frozen yogurt business with four outlets.
ECP, which is opening a new office in Nairobi, claims the deal is the first private equity investment in East Africa’s restaurant sector. Although the value of the deal hasn’t been disclosed, the parties have said the investment will fund the growth of the business in Kenya and the surrounding region.
“Nairobi Java House enjoys an attractive positioning as both aspirational and yet obtainable by East Africa’s rapidly expanding consumer middle class and, as such, it sits perfectly with ECP’s investment thesis,” says Bryce Fort, a managing director at ECP. “We seek to back proven global business models that are being pursued across Africa and deployed to international standards.”