Mimosa Pharmacy Limited, a retail pharmacy in Nairobi Kenya, has secured investment from Catalyst Principal Partners a private equity firm specializing in growth investments.
Catalyst said it made the investment jointly with Africa Chemist and Beauty Care (ACBC), a Mauritius-based pharmaceutical chain. The deal amount was not disclosed but a typical investment ranges between $5 million (Sh444 million) and $20 million (Sh1.78 billion). The private equity firm, however, said the stake is a mix of equity and debt.
Catalyst said its latest investment is meant to get it into the booming healthcare market, which has been rapidly expanding for more than a decade. Mimosa becomes the second pharmacy chain to get a private equity investment over the past 12 months.
Last September, Fanisi Capital bought a stake in local pharmacy retail chain Haltons for an undisclosed amount.
ACBC estimates the pharmacy industry in Kenya is worth about $440 million (Sh39.4 billion) with an average annual growth rate of 22 per cent. The private sector accounts for half of the growth.
Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Mimosa Pharmacy Limited, Nairobi Kenya, Pharmacy, Retail Pharmacy, Pharmacy Chain, Catalyst Principal Partners, Africa Chemist and Beauty Care, ACBC, Mauritius, Fanisi Capital, Haltons, Kenya.