Kevro snapped up by private equity consortium

Africa's largest supplier of corporate-branded clothing and promotional products, Kevro, has recently been acquired by a private equity consortium, marking a significant milestone for the company. The consortium, composed of RMB Corvest, RMB Ventures, Ethos Mid Market Fund, and management, now holds full ownership of Kevro. Steven Isaacson, the CEO of Kevro, sat down with CNBC Africa to shed light on the mechanics of the deal and the future prospects for the company. Isaacson expressed his gratitude for the successful partnership with Ethos Private Equity in the past, emphasizing the support they provided for Kevro's growth trajectory. The decision to bring in new investors aligned with the company's strategy and vision for expansion across Africa. While acknowledging the impact of the economic slowdown on corporate demand for promotional products, Isaacson noted a shift towards integrating promotional items into marketing campaigns. This trend, coupled with Kevro's diversified product offerings and presence in multiple categories, positions the company well to navigate challenging market conditions. Looking ahead, Kevro's management team remains intact, with a clear focus on expanding into new African markets and further developing its product categories. The consortium's interest in Kevro underscores the company's potential for growth and market leadership within the industry. Despite maintaining confidentiality on specific financial figures, Isaacson hinted at Kevro's strong revenue and profit performance, positioning the company as a top player in the industry. The acquisition by the private equity consortium signifies a strategic move to capitalize on Kevro's market position and drive continued success in the African business landscape.