The Competition Authority of Kenya (CAK) has unconditionally approved Kenafric Manufacturing Limited’s acquisition of Economic Industries Limited. This merger will see Kenafric’s market share in the stationery sector rise from 12.3 percent to 22.6 percent, making it the second-largest player in the market. Economic Industries, which held a 10.3 percent share, will exit and liquidate its business. The CAK stated that the merger is unlikely to negatively impact competition or public interest
Kenafric, controlled by Zarrar Holding Limited, manufactures a variety of products, including PVC, EVA, rubber footwear, and stationery items. The acquisition is expected to enhance Kenafric’s production capabilities and expand its reach in the stationery market. Besides stationery, Kenafric also produces soft drinks, confectioneries, and culinary products.
For more detailed information, you can read the full article on the Citizen Digital website.
Source: Dennis Musau, Citizen Digital.
