Actis Acquires a Minority Stake in South Africa-based Coricraft Group (Sub-Saharan Africa)
Pan-emerging markets private equity firm Actis has acquired a minority stake in South Africa-based home furnishings retailer Coricraft Group. Other investors in the round included Westbrooke, a South Africa-based investment group, and Coricraft Group’s management. Coricraft intends to use the new capital to expand nationally and in Sub-Saharan Africa. Financial details of the transaction, which is subject to regulatory approval, were not disclosed.