Tana Africa backs drinks company for Fund II’s fifth deal

Last week, Tana Africa Capital announced the fifth investment for its second private equity fund, acquiring a significant minority stake in Kensington Distillers & Vintners (or KDV), a manufacturer and distributor of alcoholic beverages with operations in South Africa, Kenya, and Nigeria.  As part of the deal, Tana Africa will be able to appoint someone to join KDV’s board of directors. A representative declined to disclose any further details of the deal, which was led for Tana Africa by Mike Tindall, a Managing  Director of the firm, and his colleague Pieter Cilliers. They were assisted by Nicolas Hindi and Yannick Sanni.

Tana Africa Capital II, which originally raised $300 million, is providing fresh equity which will be used to fund KDV’s growth plans. The goal is to build a pan-African drinks business. As well as expanding within the markets it currently operates in – South Africa, Kenya, and Nigeria – KDV is eyeing the opportunities offered by the rapidly growing markets elsewhere in sub-Saharan Africa including Mozambique, Tanzania, Ghana, Angola, Congo DRC, and Zambia. KDV’s strategy will include making acquisitions as well as pursuing direct market entry tactics.

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