Britannia Industries has acquired a controlling stake in Kenya-based Kenafric Biscuits Limited (KBL). This strategic move allows Britannia to establish a manufacturing base and expand its sales in the African markets. Britannia and Associates (Dubai) Pvt Company Ltd (BADCO), a wholly-owned subsidiary of Britannia, acquired 51 percent equity in KBL for 13.87 crore Kenyan Shillings (approximately Rs 9.2 crore). The acquisition aims to enhance the manufacture and sale of biscuits in Kenya and other African markets
Additionally, Britannia acquired Catalyst Britania Brands Ltd, an investment company that owns the ‘Britania’ trademark in Kenya. This trademark is distinct from Britannia’s own ‘Britannia’ trademark. The acquisition of KBL was completed on October 3, 2022, making KBL a step-down subsidiary of Britannia Industries.
For more detailed information, you can read the full article on the Economic Times website.
Source: PTI, The Economic Times.
