Adenia Partners Acquires Controlling Stake in Tumaini Self Service
Posted On: 31 Dec 2018 | Source(s): Business Daily Africa
Africa-focused private equity fund manager Adenia Partners has acquired a controlling stake in Tumaini Self Service, a Kenya-based supermarket chain operator. Adenia acquired the company through its special purpose vehicle Sokoni Retail Kenya. Tumaini, which has six grocery branches, plans to use the new funds to expand throughout the Nairobi metropolitan area. Financial details of the transaction, which has been approved by the Competition Authority of Kenya, were not disclosed.