Private Equity firm Leapfrog Investments has acquired a controlling stake at regional beauty and drugstore Goodlife Pharmacy. Leapfrog said Wednesday that it paid Sh2.2 billion to buy out the entire stake held by PE firm Catalyst Fund. Leapfrog’s move is indicative of the firm's growing interest in East Africa where it recently bought a majority stake in insurance provider Resolution Health. Regional expansionThe company said in a statement that it plans to open more pharmacy outlets in Kenya and Uganda where Goodlife currently operates 19 stores. The exit by Catalyst from Goodlife is the first it has made under the PE firm’s inaugural fund, Catalyst Fund I.

Source: Daily Nation November 23, 2016 19:09 UTC