{"id":585654,"date":"2023-04-27T00:00:00","date_gmt":"2023-04-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/27\/dpi-led-group-to-invest-usd-165-mn-in-retailer-kazyon\/"},"modified":"2023-04-27T00:00:00","modified_gmt":"2023-04-27T00:00:00","slug":"dpi-led-group-to-invest-usd-165-mn-in-retailer-kazyon","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/27\/dpi-led-group-to-invest-usd-165-mn-in-retailer-kazyon\/","title":{"rendered":"DPI-led group to invest USD 165 mn in retailer Kazyon"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">EXCLUSIVE- DPI is doubling down on Kazyon: <\/span><span style=\"\">A consortium led by our friends <\/span><span>at Africa-focus<\/span><span>ed <\/span><span>private equity firm <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.dpi-llp.com\/\" style=\"\">Development Partners International<\/a><\/span><span> (DPI) will invest USD 165 mn in supermarket chain <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/store.kazyonplus.com\/store\/kazyon\/en\" style=\"\">Kazyon<\/a><\/span><span>, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/866.pdf\" style=\"\">a s<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/866.pdf\" style=\"\">tatement (<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/866.pdf\" style=\"\">pdf<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/866.pdf\" style=\"\">)<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The details: <\/span><span>The tra<\/span><span style=\"font-weight:400;\">nsaction will see the investors acquire a \u201csignificant minority stake\u201d in the firm, DPI partner Ziad Abaza told Enterprise. DPI is writing the lion\u2019s share of the ticket; the transaction includes both primary and secondary sales of shares, Abaza told us. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">DPI k<\/span><span style=\"font-weight:700\">nows Kazyon well:<\/span><span style=\"font-weight:400;\"> DPI has held a \u201csignificant minority stake\u201d in Kazyon since last year when it invested USD 75 mn in the company, Abaza told us. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Who else is on board? <\/span><span>UK development finance institution <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bii.co.uk\/en\/\" style=\"\">British International Investment<\/a><\/span><span> and Africa-focused PE outfit <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.southsuez.com\/\" style=\"\">South Suez<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.southsuez.com\/\" style=\"\">Capital<\/a><\/span><span style=\"font-weight:400;\"> are among the institutional investors joining DPI in the transaction.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Where the money\u2019s going:<\/span><span style=\"font-weight:400;\"> Kazyon will use the proceeds from the investment to expand its presence in Egypt by opening new stores, Abaza said. Kazyon is also planning to enter new markets outside the country\u2019s borders, he added, without going into details because the plans have not been finalized.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Kazyon is a discount grocery retailer:<\/span><span> Founded in 2014 by former EFG Hermes c<\/span><span>o-CEO Hassan Heika<\/span><span style=\"font-weight:400;\">l, Kazyon sells a range of food and household products at competitive price points. The company now has more than 600 stores across 18 governorates and operates one of the largest customer loyalty schemes in the Middle East and Africa.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">WHERE KAZYON FITS INTO DPI\u2019S EGYPT STRATEGY-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The investment comes amid significant economic headwinds in Egypt<\/span><span style=\"\">, <\/span><span style=\"\">where a foreign currency crunch continues and <\/span><span style=\"font-weight:400;\">headline inflation is now running at its highest level in almost six years, squeezing household budgets.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">But DPI likes Egypt\u2019s fundamentals:<\/span><span style=\"font-weight:400;\">\u201cWe are long-term investors in Egypt and believe in the long-term fundamentals of the country,\u201d Abaza said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The firm is confident that Kazyon is well insulated from the economic pressures:<\/span><span style=\"font-weight:400;\"> \u201cIf you think about what the company does, it essentially tries to sell grocery products at the cheapest price possible. If anything, there's more demand for this product than ever in Egypt given what's happening from a macro standpoint,\u201d Abaza tells us. Currency weakness is also unlikely to impact the company, he says: \u201cKazyon is not really a company that would be negatively affected by the devaluation because it doesn't import.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">This is DPI\u2019s second acquisition in Egypt this month:<\/span><span> The firm <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7dcb2079-d73d-407e-ab3e-2042f30deb93\" style=\"\">acquired a minority stake<\/a><\/span><span> in local pharma player Marcyrl alongside Amethis earlier this month, and has been on the lookout for further opportunities in defensive sectors in the country.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ADVISORS-<\/span><span style=\"font-weight:400;\"> Evercore Partners, Matouk Bassiouny & Hennawy, PwC and Baker Tilly acted as advisors for Kazyon. DPI was advised by White & Case and Debevoise & Plimpton. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The group will acquire a significant minority stake in the discount grocer<\/p>\n","protected":false},"author":1,"featured_media":585655,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[2184,3286,72,125,7013,7128,758,7014],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-585654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-british-international-investment","tag-dpi","tag-enterpriseam","tag-investment-watch","tag-kazyon","tag-ma-watch","tag-private-equity","tag-south-suez-capital","wpautop","entry"],"acf":{"mongo_id":"989c9ce4-ad8e-4be1-b014-076b770f7ff4","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/910.jpg","photo_position":"above","homepage_title":"","full_issue_title":"DPI-led group to invest USD 165 mn in Egyptian retailer Kazyon","related_issue":[585650],"teaser":"The group will acquire a significant minority stake in the discount grocer","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.062791cf-c669-40b9-b793-c2776830d681.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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