Catalyst Principal Partners, a Kenya based private equity firm, yesterday announced the acquisition of a 50% stake in Yes Brands Food & Beverages PLC, Ethiopia.

Speaking at the signing ceremony, Catalyst CEO Paul Kavuma said “Yes Brands is the leading bottled mineral water company in Ethiopia with a dominant brand and market share. Catalyst aims to build upon the company’s strength to accelerate growth of the business through enhanced operational capacity, deeper distribution and product innovation.”

Alemayehu Nigussie, founder of Yes Brands, welcomed Catalyst as a value-add partner saying, “Together with Catalyst, we have embarked on an ambitious growth strategy for Yes Brands. We will continue to build on the success of Yes Brands to ensure wide availability of our products to satisfy the evolving needs of consumers in Ethiopia and across the region.”

Tadesse Haile, Ethiopia’s Minister of Trade and Industry applauded  Catalyst’s move to invest in Yes Brands, saying it was a signal of confidence in the Ethiopia’s economy.

Other recent Catalyst investments include ChemiCotex Industries Ltd, the leading oral and personal care products manufacturer in Tanzania, and Chai Bora Ltd, Tanzania’s premier tea packaging company.

Source: PEHUB