Mauritian equity firm Catalyst Principal Partners has acquired entire shareholding in Tanzania’s tea packaging company Chai Bora from investment company Transcentury.
Catalyst managing director Rajal Upadhyaya said Chai Bora is supporting local production, and adding value to the economy by sourcing 100% of its tea from Tanzanian farms and through its processing and packaging facilities.
"Our aim is to support the continued growth and expansion of the business within Tanzania and across the region so that consumers can continue to benefit from an increasingly wide variety of affordable high quality Chai Bora products and brands," Upadhyaya said.
The acquisition is said to be in line with Catalyst's interest in businesses that contribute to increasing local demand and economic conditions.
