ADP II, a pan-African private equity fund advised by DPI, has acquired a strategic minority stake in HomeChoice International, an omni-channel home shopping retailer in southern Africa, from the majority shareholder in HomeChoice.
 
Eduardo Gutierrez Garcia, Partner at DPI, said: “HomeChoice is a top quality business with a unique and flexible operating model coupled with an experienced and impressive management team.”

“This is yet another exciting firm we are proud to add to our portfolio of companies and look forward to working with HomeChoice and its management team to create growth and value,” he added.

Founded in 1985, HomeChoice has operations in South Africa, Botswana, Lesotho, Namibia, Swaziland and Zambia.

HomeChoice is a home shopping retailer selling homeward merchandise and financial services products to the rapidly expanding urban middle-income mass market in southern Africa.
 
Since 2009 HomeChoice has grown its revenue at a compound annual growth rate (CAGR) of 24% and managed to deliver a CAGR of 47% in operating profits.
 
The transaction represents a strong endorsement of HomeChoice’s international strategy and prospects, and its growth aspirations into Africa.
 
Shirley Maltz, CEO of HomeChoice Holdings Group, said, “We are pleased that DPI has chosen to partner with us and we believe that their in-depth knowledge and extensive network in Africa will be beneficial to our African expansion.”
 
DPI’s investment will shortly be followed by a listing of HomeChoice on the JSE in December.