KKR, a leading global investment firm, today confirmed its investment in Afriflora, a leading large-scale rose grower and distributor, founded and run by the Barnhoorn family.
Afriflora cultivates, produces and sells sustainably-grown roses and has built a strong reputation for its fair-trade approach and contributions to the local community in Ethiopia where it operates. The company’s main growing facility is located in Ziway, Ethiopia and is the largest single rose growing facility in the world.
Peter Barnhoorn, CEO of Afriflora, said: “Our family will remain anchor investors in Afriflora and continue to run the company that we founded and built. To support the long-term growth of the company, we have taken great care in selecting an investment partner that is respectful of the operating philosophy of Afriflora and has a deep experience in helping companies grow, especially in the retail sector. KKR also has a long track record of successfully partnering with families and entrepreneurs and we really look forward to our partnership with KKR.”
Kayode Akinola, Director of KKR and head of KKR’s efforts in Africa said: “This is our first direct investment in Africa. We are excited to support the development and growth of a successful company founded and built by the Barnhoorn family.”
Johannes Huth, Head of KKR Europe, Middle East and Africa, said: “This first investment reflects the long-term commitment of our firm to the wider African region. We look forward to making further investments across the continent through our private equity, infrastructure and energy investment platforms.”
The financial details of the transaction were not disclosed.