Investment Summary

Africinvest Invests In Justrite

On January 23, 2023, growth capital firm Africinvest invested in retailer Justrite

Investment Highlights
  • This is Africinvest’s 3rd transaction in the Retail sector.
  • This is Africinvest’s 6th transaction in Nigeria.

Investment Summary

Date 2023-01-23
Target Justrite
Sector Retail
Investor(s) Africinvest
Deal Type Stake Purchase

Target

Justrite

Sango Ota, Nigeria
Justrite is a Nigerian retail department store. The Company provides everyday essentials, such as groceries, confectionaries, and clothing to consumers in largely underserved neighborhoods. Justrite was founded in 2000 and is based in Sango Ota, Nigeria.

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Investor(S) 1

Investor

Africinvest

Tunis, Tunisia

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1994
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Africinvest is a private equity firm focused on growth investments in African companies. The Firm generally targets minority investments in small to medium-sized companies, but Africinvest will consider select majority situations. Africinvest does not have any sector preferences and looks to hold for 4 to 6 years. Africinvest was formed in 1994 and is headquartered in Tunis, Tunisia.


DEAL STATS #
Overall 51 of 54
Sector (Retail) 3 of 3
Type (Stake Purchase) 9 of 9
Country (Nigeria) 6 of 6
Year (2023) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-17 Afitexinov

Champhol, France

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-20 Jems Group

Neuilly, France

Jems Group is a provider in Big Data and pioneer of data-oriented digital transformation. JEMS intervenes in all activity sectors, from mid-cap companies to CAC 40, particularly in the fields of health, automotive, agriculture, retail, finance, Facility Management, and industry. Jems Group was established in 2002 and is based in Neuilly, France.

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