A private equity firm known as The Abraaj Group, has agreed to acquire 100% of Java House Group from Emerging Capital Partners.
Java House Group, which was started in 1999 by Kevin Ashley, sold majority share to Emerging Capital Partners (ECP) in 2012. With the help of ECP, Java House grew from 13 branches to 60 branches all over East Africa and rebranded from Nairobi Java House to Java House.
The Abraaj Group will not only acquire the coffee shops, but Planet Yoghurt, 360 degree pizza, and the coffee roasting and packaging factories that are part of Java House Group.
The details of the cost of acquisition were not disclosed.