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US private equity funds in Sh10bn bid for Java House chain
A Java House outlet along Kimathi Street in Nairobi. Java’s sale will cement Kenya’s reputation as a high-return market that offers easy exit routes for PE funds and development finance institutions. FILE PHOTO | SALATON NJAU
Two American private equity funds are among a group of institutional investors in the race to acquire Kenyan coffee chain Java House in a transaction estimated to be worth $100 million (Sh10 billion).
Sources familiar with the deal said Washington-based Carlyle Group, which has $169 billion under its management and San Francisco-based TPG, a $74 billion fund, are among the firms seeking to acquire Java – the coffee outlet that has recorded fast growth since its inception in 1999.
