Private equity firm Catalyst buys stake in Mimosa Pharmacy

Private equity firm Catalyst Principal Partners has bought a stake in Mimosa Pharmacy, a retail drugs store chain, in the first local investment by the investor.

Catalyst said it made the investment jointly with Africa Chemist and Beauty Care (ACBC), a Mauritius-based pharmaceutical chain. The deal amount was not disclosed but a typical investment ranges between $5 million (Sh444 million) and $20 million (Sh1.78 billion). The private equity firm, however, said the stake is a mix of equity and debt.