Dubai’s Abraaj takes over Java House
Dubai-based investment firm, Abraaj Group, has announced its purchase of East Africa’s leading coffee-led casual dining chain Java House.
Abraaj has signed a deal that will see them acquire 100% stake of the chain from majority stakeholder, Emerging Capital Partners (ECP) and the Company’s founder Kevin Ashley.
ECP bought majority stake in Java in 2012 and has since expanded the business from 13 shops in Nairobi to 60 stores across 10 cities in Kenya, Uganda and Rwanda.
Abraaj says it intends to leverage on Java’s market leadership position and strong leadership to grow the chain into new markets …read more
Source: X News