Catalyst Principal Partners, the growth-hungry private equity firm, has acquired Jambo Biscuits Ltd for undisclosed value and through the newly established Britania Foods Ltd. The East African-focused PE firm said this was its first investment under its second fund which raised about $103 million (Sh10.62 billion) last month. “Our investment was anchored on the innovation platform consistently achieved by the brand within the biscuits category, as well as positive market fundamentals in a sector that is growing faster than GDP, propelled by younger demographics and growing disposable income,” Catalyst CEO Paul Kavuma said in a statement. Catalyst brings to Britania Foods financial backing in form of working capital injection, as well as business strategy support in the institutionalization of the business including the investment in technical capabilities, management change, reinforcement of the distribution network and strengthening of corporate governance. “Catalyst has added significant value in the development of a compelling strategy and in the institutionalisation of the company, to position the business for an accelerated growth trajectory,” Britania Foods newly appointed managing director Robert Kagundah said.

Source: The Star May 09, 2017 20:26 UTC