Catalyst Principal Partners, an Eastern Africa focused private equity firm, has acquired through a newly established firm, Britania Foods, the business and operations of Jambo Biscuits, a biscuits manufacturer in Kenya.

Founded in 1987, Jambo Biscuits is situated on Kampala Road in the Industrial Area of Nairobi. 

Its key activity is manufacture of biscuits, now successfully diversified into snack food and confectionery products. 

Its brand name Britania stands for the mark of quality that has become synonymous with biscuits in Kenya and in many parts of the COMESA Region to which it exports. 

The Britania brand has evolved into a leading confectionary player, offering a wide range of quality biscuits, catering to a diversity of consumer segments and tastes, available across an extensive network of informal and modern trade channels nationwide.

Commenting on the acquisition, Paul Kavuma, CEO of Catalyst, said: “The Britania brand has a strong heritage across Kenya with well-known products in the market.” 

“Our investment was anchored on the innovation platform consistently achieved by the brand within the biscuits category, as well as positive market fundamentals in a sector that is growing faster than GDP, propelled by younger demographics and growing disposable income,” he said.

Catalyst brings to Britania Foods financial backing in form of working capital injection, as well as business strategy support in the institutionalization of the business including the investment in technical capabilities, management change, reinforcement of the distribution network and strengthening of corporate governance.

“We have assembled an experienced management team with deep knowledge of the consumer goods sector and with international best practice expertise,” Kavuma said.

Robert Kagundah, newly appointed Managing Director of Britania Foods, added: “With a strengthened team and balance sheet, we aim to leverage the company’s deep heritage to expand its capacity and reach, and to diversify its product range to become a leading regional player in fast moving consumer goods.” 

“Catalyst has added significant value in the development of a compelling strategy and in the institutionalisation of the company, to position the business for an accelerated growth trajectory. We are already implementing our strategic plans through a significant investment in an upgrade of the factory to ensure consistent product quality while driving innovation within the sector,” he said.

The acquisition is the first investment under Catalyst’s second fund that recently achieved its first close at $103m. 

Catalyst Fund II is targeting $175m of commitments under management and expects to hold a final close later in the year. 

Fund II will maintain Catalyst’s successful regional investment strategy focused on mid-market growth capital investments, backing dynamic entrepreneurs and managers within fast growth consumer demand driven sectors across Eastern Africa.