CFAO Healthcare to acquire full stake in Goodlife Pharmacy Chain

KENYA—CFAO Healthcare, the French CFAO Group healthcare division under the Toyota umbrella, has announced plans to acquire the remaining 69.9% stake in Goodlife, East Africa’s largest private pharmacy chain.

This acquisition, to be made from investor Leapfrog Investments, follows earlier transactions that increased CFAO Healthcare’s ownership in Goodlife to 30.1% over the past year.

This announcement follows another significant expansion initiative in October 2024, when CFAO Healthcare acquired Opella Healthcare South Africa, a respected local manufacturer and distributor.

 This investment is particularly noteworthy as it marks the company’s first entry into the South African healthcare sector, which is recognized as the second-largest market on the continent.

CFAO Healthcare is continuously expanding its geographical reach while solidifying its position as a key player in Africa’s pharmaceutical distribution network.

Established in 2014, Goodlife has rapidly developed into the leading private pharmacy chain in East Africa.

The chain currently operates 141 outlets, with 133 located in Kenya and 8 in Uganda.

The upcoming acquisition will be carried out through Goodlife’s Mauritius-based holding company, Africa Chemist & Beauty Care Inc (ACBC).

This company owns both Goodlife Pharmacy Limited in Kenya and Africa Chemist and Beauty Care Uganda Limited in Uganda, thereby enhancing CFAO Healthcare’s strategic control over the brand in both countries.

Additionally, this acquisition is part of a broader trend of increased investment in Kenya’s pharmacy sector.

 In recent years, several significant transactions have transformed the landscape.

For example, in 2019, Ghana-based mPharma acquired the Haltons pharmacy chain and later expanded its portfolio by operating a networked pharmacy model under the “Mutti” brand, in addition to owning the HealthPlus pharmacy chain in Nigeria.

Furthermore, in 2023, Mauritius-based IBL, known for its ownership of the Winners supermarket chain in Mauritius and a majority stake in Kenya’s Naivas supermarket chain, acquired a majority stake in the Kenyan pharmaceutical distributor Harley’s.

 Additionally, DP World, which owns Imperial Logistics and the Kenyan distributor Surgipharm, has recently strengthened its investment in the market by launching a new FMCG distribution unit in October 2024.

Sign up HERE to receive our email newsletters with the latest news and insights from Africa and beyond. Also, follow us on our WhatsApp channel for updates.