Actis Invests in Food Lover’s Market (Sub-Saharan Africa)

Source: Actis 

Pan-emerging markets private equity firm Actis has acquired a minority stake in South Africa-based food retailer Food Lover’s Market for ZAR760 million (approximately US$54 million). The company owns more than 120 stores across 11 countries in Africa. Food Lover’s Market intends to use the funding to continue its growth both in South Africa and in other Sub-Saharan African countries.