About Africa Chemist and Beauty Care
Africa Chemist and Beauty Care (ACBC) is a Mauritius-based pharmaceutical chain that delivers quality, authentic medicines. The company integrates the latest innovations in retailing, supply chain, and mobile technology to create a professional retail experience.
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Latest Africa Chemist and Beauty Care News
Nov 18, 2019
East Africa focused private equity firm Catalyst Principal Partners has announced its exit from pharmaceutical retailer Goodlife Pharmacy where it held a controlling stake. Catalyst sold its stake to LeapFrog Investments , a private equity investment company focusing on investments for emerging consumers in Africa and Asia. Catalyst, along with strategic partners Africa Chemist and Beauty Care and a seasoned management team, acquired a controlling stake in Mimosa Pharmacy in 2014, which it utilized as a platform to develop a leading branded pharmaceutical retail chain now re-branded to Goodlife Pharmacy. Goodlife has grown to be the largest pharmaceutical retail chain across eastern Africa consolidating health, personal care and beauty care in its products and service offering. The healthcare retailer offers globally recognized and quality brands to local consumers at affordable prices. Goodlife also prides itself in being the first in the market to introduce consultation centers in all its locations and industry practices to alleviate the dispensing of substandard and counterfeit medication. During the period of Catalyst’s investment, Goodlife grew its footprint from 6 stores primarily located in Nairobi and the coastal region of Kenya, to 19 convenient locations that extend into emerging urban centers in Kenya and Uganda. Referring to the exit, Catalyst Managing Director Biniam Yohannes noted “Catalyst invested in a well-positioned local pharmacy chain that was benefiting from the rapidly growing healthcare, retail and consumer sectors. Catalyst worked with management and its co-investors to conceptualize, institutionalize and strengthen the company’s operations and to set strategic objectives to achieve rapid scaling to develop a differentiated health and beauty care retail offering to address an increasingly aspirational regional consumer. We are pleased with the success Goodlife has achieved over the past two years and are confident in the company’s trajectory to become a regional champion.” In 2015, Goodlife received financing from the International Finance Corporation (IFC) to accelerate its expansion plans. Biju Mohandas, who heads IFC’s Health and Education practice said that “IFC has been part of Goodlife’s growth story alongside Catalyst and looks forward to working closely with the new investor, management and other shareholders in their continuing endeavor to provide good quality, affordable pharmaceutical products to the East African consumer.” The exit by Catalyst from Goodlife is the first made under the PE firm’s inaugural fund, Catalyst Fund.
Africa Chemist and Beauty Care Investments
Africa Chemist and Beauty Care has made 1 investments. Their latest investment was in GoodLife as part of their Private Equity on September 9, 2014.