Founded in 2001 by Braam van Huyssteen, its executive chairman, Tekkie Town currently has over 265 stores across South Africa, selling the widest available range of global sportswear brands for value-seeking consumers.
This sits at the heart of Actis's consumer-centric approach, as a differentiated retail proposition in a high-growth sector, underpinned by the demands of brand and lifestyle-conscious African middle class consumers. It invests exclusively in the emerging markets with a growing portfolio of investments in Africa, Asia and Latin America; it currently has $6.5 billion funds under management. The group has a strong track record of backing high-quality, consumer-focused businesses on the continent, including fabric design company Vlisco Group and food group Edita.
David Cooke, Director at Actis, said, "Van Huyssteen and his team have built a fantastic business targeting the consumer segment that aligns with our investment strategy - brand aspirational, emerging middle class consumers who are looking for quality products at real value. We look forward to partnering with him to help the business continue its impressive growth in South Africa and to expand to other countries in the continent."
Van Huyssteen said, "I am excited to have Actis on board. With its excellent track record of investing in South Africa and deep understanding of the African retail market, I am confident that together we will develop the business into a multi-national customer centric operation. We have built the business from scratch, taking it from 1 to 265 stores in 13 years, with this new partnership I look forward to creating more opportunities for the business and all of our employees."
