7 October 2021
TEMPLARS has advised African Capital Alliance (ACA), a leading pan-African investment management firm, in respect of its purchase from Development Partners International (DPI) of a 31% equity stake in the multi-brand quick-service restaurant group, Food Concepts Plc.
Food Concepts Plc operates the Chicken Republic, PieXpress, and Chop Box brands in West Africa and has gone through rapid expansion in recent years growing from 58 to over 180 stores across Nigeria in the last six years.
Following the acquisition, DPI will retain a majority stake in Food Concepts Plc and work with ACA as a strategic partner to drive Food Concepts Plc’s next growth phase and help implement the business’ regional expansion strategy.
The Templars team that advised on the documentation and negotiation of the transaction and anti-trust matters was led by Partner Desmond Ogba with support from Osarugue Izekor, Ojuolape Kalesanwo, Okabonye Chukwuani, Bibiana Idabor and Olasunkanmi Otuyiga.