Adenia Partners, an African-focused private equity firm led by a successful Mauritius-based businessman Antoine Delaporte, is reportedly in negotiations to fully acquire the popular restaurant chain, Java House, in a potential transaction worth a staggering $25 million.
The recent move, occurring over 1.5 years after Delaporte and his team at Adenia acquired a controlling interest in Altilands SA – the parent company of Red Lands Roses, a prominent producer of top-quality fresh-cut roses in Kenya – further fuels the flurry of mergers and acquisitions in Kenya’s rapidly booming industries.
Adenia’s bid to acquire Java, owned by UK-based fund Actis, is progressing positively, with negotiations estimated to be valued between $20 million to $25 million, according to a well-informed source who wished to remain anonymous. The talks are reportedly in an advanced stage, showcasing the potential success of this proposed acquisition.
The prospective transaction, which could result in Actis realizing a return on its investment in Java House, would further strengthen Adenia’s foothold in Kenya following its acquisition of shares in the retail chain Quickmart in 2019, as well as stakes in Reds Land Roses, a supplier of fresh cut roses.
With 82 outlets, Java currently holds the title of the largest restaurant chain, followed by Chicken Inn (72), Artcaffe (35), KFC (33), and Burger King (5). As the Kenyan restaurant industry continues to expand, Adenia is poised to become a prominent player in the region with the acquisition of Java House.
Founded in 2002 by Delaporte, Adenia Partners is a leading private markets investment firm with a distinguished history of strong and consistent performance.
The firm boasts 31 successful platform investments and 16 realized exits, and has successfully raised $500 million across four funds.
Delaporte, who serves as the managing partner and an investment committee member at Adenia, is a seasoned entrepreneur, having established and developed three successful clothing companies with more than 2,500 employees in Madagascar from 1995 to 2002.
Under Delaporte’s leadership, Adenia has assembled one of the most highly qualified African private markets investment teams in the industry.
The team members are renowned for their exceptional educational backgrounds, extensive entrepreneurial and investment experience, and in-depth local knowledge.