M&A

M&A

Britannia acquires controlling stake in Kenya's Kenafric Biscuits

BSE Disclosure  

Britannia and Associates (Dubai) Pvt Company Ltd, a wholly-owned subsidiary of publicly listed Britannia Industries Ltd, has acquired control of Kenafric Biscuits Ltd (KBL), a private limited liability company incorporated in Nairobi, Kenya by subscribing to 51% of the equity share capital for Kenyan Shillings (KES) 13.87 crore (INR 9.2 crore). It also acquired 100% stake of Catalyst Britania Brands Ltd (CBBL), is an investment company which owns ‘Britania' trademark in Kenya, for Kenyan Shillings (KES) 2.14 crore (INR 1.42 crore). Post acquisition, KBL has become a subsidiary with 51% stake held by Britannia and Associates (Dubai) Pvt Company Ltd (BADCO). The remaining 49% stake is held by the Kenafric Group.