{"id":118458,"date":"2024-05-09T18:55:42","date_gmt":"2024-05-09T18:55:42","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/sri-lanka-firm-keen-to-control-up-to-20-of-kenyas-tea-industry"},"modified":"2024-05-09T19:32:25","modified_gmt":"2024-05-09T19:32:25","slug":"sri-lanka-firm-keen-to-control-up-to-20-of-kenyas-tea-industry","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/sri-lanka-firm-keen-to-control-up-to-20-of-kenyas-tea-industry","title":{"rendered":"Sri Lanka firm keen to control up to 20% of Kenya\u2019s tea industry"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Sri Lanka\u2019s Browns Investments has made a move on Limuru Tea, in what could tighten its grip on the Kenyan tea industry after a successful take-over of James Finlay last year.<\/p>\n

Through its subsidiary B Commodities, Browns is keen to \u201cindirectly\u201d acquire a majority stake in Limuru Tea whose shares are listed and publicly traded on the Main Investment Market Segment of the Nairobi Securities Exchange (NSE).<\/p>\n

It is eying the assets of Lipton Kenya which owns a 51.99 per cent of the total issued share capital of Limuru Tea, in a deal that now awaits the Capital Markets Authority (CMA) and the Competition Authority of Kenya\u2019s approvals.<\/p>\n

UK based-Ekaterra Holdco UK Limited owns 98.56 per cent of Lipton Teas and Infusions Kenya.<\/p>\n

On May 6, Ekaterra and B Commodities entered into a share purchase agreement for the sale of the share capital of various Ekaterra subsidiaries in East Africa including 98.56 per cent of the total shares of Lipton Kenya.<\/p>\n

\u201cThe transaction will, upon completion, result in B Commodities indirectly acquiring effective control and beneficial shareholding of Limuru Tea equal to 51.99 per cent of the issued share capital of Limuru Tea,\u201d CMA said in a public notice yesterday.<\/p>\n

Ekaterra, through the Lipton brand is among leading players in the global tea industry with its business cutting across the value chain, from farm, processing and supply, manufacturing, packaging, to the retail market.<\/p>\n

The deal will see the transfer of Lipton Tea assets in Kenya, Rwanda and Tanzania to Browns.<\/p>\n

In Kenya, Lipton\u2019s estates include 11 plantations and eight factories in Limuru, Kericho and Bomet counties, assets that had earlier been owned by Unilever, before being bought by CVC Capital Partners three years ago.<\/p>\n

For the takeover of Tanzania assets, the transaction will require the approval of the Fair Competition Commission of Tanzania.<\/p>\n

\u201cThe transaction is anticipated to close in the third quarter of 2024,\u201d CMA said.<\/p>\n

Browns which is incorporated in Sri Lanka and listed on the Colombo Stock Exchange fully owns B Commodities.<\/p>\n

It has a strong presence in sustainable renewable energy, agriculture and plantations, construction and real estate, and leisure, with operations in Maldives, Mauritius, Sierra Leone and Kenya.<\/p>\n

It owns Maturata Plantation, the tea estates formerly owned by James Finlay in Kericho and Bomet Counties.<\/p>\n

This was after the acquisition of an 85 per cent stake in James Finlay by its subsidiary B Commodities in a Sh3 billion transaction.<\/p>\n

The latest move is expected to see the company control up to 20 per cent of the country\u2019s overall annual tea output and about half of the tea production market.<\/p>\n

\u201cB commodities wishes to acquire the tea business with a view to contributing to the continued growth of the tea business and further expanding Brown\u2019s industry position in the tea cultivation and agro-processing sector,\u201d the firm has indicated.<\/p>\n

According to CMA, the company has no intentions of making a complete take-over offer for Limuru Tea and will not be changing the NSE-listed firm\u2019s status at the bourse.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Sri Lanka\u2019s Browns Investments has made a move on Limuru Tea, in what could tighten its grip on the Kenyan tea industry after a successful take-over of James Finlay last year. Through its subsidiary B Commodities, Browns is keen to \u201cindirectly\u201d acquire a majority stake in Limuru Tea whose shares are listed […]<\/p>\n","protected":false},"author":84,"featured_media":118457,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-118458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nSri Lanka firm keen to control up to 20% of Kenya\u2019s tea industry - kenya<\/title>\n<meta name=\"description\" content=\"Sri Lanka\u2019s Browns Investments has made a move on Limuru Tea, in what could tighten its grip on the Kenyan tea industry ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/sri-lanka-firm-keen-to-control-up-to-20-of-kenyas-tea-industry\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sri Lanka firm keen to control up to 20% of Kenya\u2019s tea industry\" \/>\n<meta property=\"og:description\" content=\"Sri Lanka\u2019s Browns Investments has made a move on Limuru Tea, in what could tighten its grip on the Kenyan tea industry ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/sri-lanka-firm-keen-to-control-up-to-20-of-kenyas-tea-industry\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-09T18:55:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-09T19:32:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/05\/sm_1715266752.951707.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"763\" \/>\n\t<meta property=\"og:image:height\" content=\"541\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/sri-lanka-firm-keen-to-control-up-to-20-of-kenyas-tea-industry#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/sri-lanka-firm-keen-to-control-up-to-20-of-kenyas-tea-industry\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Sri Lanka firm keen to control up to 20% of Kenya\u2019s tea industry\",\"datePublished\":\"2024-05-09T18:55:42+00:00\",\"dateModified\":\"2024-05-09T19:32:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/sri-lanka-firm-keen-to-control-up-to-20-of-kenyas-tea-industry\"},\"wordCount\":522,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/sri-lanka-firm-keen-to-control-up-to-20-of-kenyas-tea-industry#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/05\/sm_1715266752.951707.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/sri-lanka-firm-keen-to-control-up-to-20-of-kenyas-tea-industry#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/sri-lanka-firm-keen-to-control-up-to-20-of-kenyas-tea-industry\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/sri-lanka-firm-keen-to-control-up-to-20-of-kenyas-tea-industry\",\"name\":\"Sri Lanka firm keen to control up to 20% of Kenya\u2019s tea industry - 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