Mauritius-based private equity firm Adenia Partners is in discussions to fully acquire restaurant chain Java House in a transaction that could hit Sh3 billion amid heightened deal-making in Kenya’s hospitality sector.
The potential deal could be valued at between Sh2.5 billion and Sh3 billion as Actis seeks to cash in on the stake it acquired from Dubai-based Abraaj Group.
The Mauritius-based PE’s interest in Java comes in a period when top hotels have either closed or witnessed ownership changes as the sector recovers from Covid-19 travel curbs.
The chain has since grown to 75 branches in Kenya, four in Uganda, and three in Rwanda, and has previously sought to expand to Dar es Salaam, Lagos, Accra, and Lusaka.
Java is the biggest restaurant chain in the region with 82 outlets, followed by Chicken Inn (72), Artcaffe (35), KFC (33), and Burger King (5).