Coricraft stake sold to Actis
Actis, one of the largest private equity firms in Africa, announced on 1 September that it has acquired a significant minority stake in one of South Africa's leading home furniture retailers: Coricraft Group. The group has a South African footprint of 115 stores, as well as several stores in Namibia and Botswana.
Natalie Kolbe, partner at Actis:
"We believe Coricraft Group has significant growth potential given its high quality, aspirational value offering."
Actis, a market investor with more than $7,5 billion assets under management, focuses solely on investments in emerging markets across Africa, Asia and Latin America, and has built a reputation for backing high-quality, consumer-focused businesses. To date, it has invested some $1.6 billion in the consumer sector, with past investments including sports retailer, Tekkie Town; snack food group, Edita; and fabric design firm, Vlisco Group.
- Read HERE what Natalie Kolbe had to say about CFOs and risk during our recent event 'Executing an effective growth strategy'
The transaction remains subject to the approval of the Competition Authorities, and as yet, no financial terms have been disclosed.