Fanisi Capital buys stake in retail chain Haltons for Ksh255 Million-via PR

Posted on September 11, 2013

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Fanisi Capital buys stake in retail chain Haltons for Ksh255 Million

Acquisition deepens Fund’s presence in the pharmaceutical industry

 

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Nairobi, September 11, 2013…..Fanisi Capital Limited which manages Fanisi Venture Capital Fund, a $50 million fund investing in the East African region, has announced its acquisition of a significant stake in retail pharmacy chain Haltons Limited for $3 million (Ksh255 Million).

Haltons operates four retail outlets within Nairobi and has plans to expand its portfolio to over 100 outlets in key towns in Kenya including Mombasa, Nakuru, Nyeri, Eldoret  and Kisumu over the next two years.

 

Fanisi Capital CEO Ayisi Makatiani says the investment will give Haltons scale to expand its business. “The partnership with Fanisi will provide the impetus needed to take Haltons through this growth path, establishing itself as a strong chain of branded pharmacies. This is expected to make a positive contribution to the immediate community in the areas of health and economic development,” said Makatiani.

Haltons CEO Louis Machogu said the deal with Fanisi was the beginning of a concerted drive to reposition the Haltons brand. “Haltons plans to differentiate itself as a strong brand that will meet both the customer service needs in terms of availability of products and quality service while maintaining competitive pricing. We focus on quality products and maintaining customer loyalty.” 

Makatiani hailed the deal, citing the entrepreneurial spirit at Haltons as a defining trait of the business. ”We are supporting a zealous and passionate entrepreneur by helping transform their business,” he said.

This acquisition by Fanisi, the second in the pharmaceutical industry after it bought a stake in Sophar Limited, a Rwanda-based pharmaceutical wholesaler early this year, will see the Fund deepen its participation in the regional healthcare sector. 

“Fanisi has made strides in the healthcare sector with its first investment in Rwanda. This being our second investment in the pharmaceutical space, Fanisi has secured a good combination in the retail and pharmaceuticals space,” explained Makatiani.

With the Haltons acquisition, Fanisi has added yet another investment into its Kenyan portfolio with Hillcrest International Schools being its precursor. In 2011, Fanisi made a high profile acquisition when it bought Hillcrest International Schools thus making a major entry into the education sector. Hillcrest Schools are premier learning institutions focusing on British curriculum

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