Phoenix Beverages secures stake in Kenyan distiller
Phoenix Beverages Limited (PBL), a Mauritius-incorporated enterprise, has received approval from the Competition Authority of Kenya (CAK) to acquire a 28.15 percent share in Africa Originals Limited.
The CAK announced that it had cleared PBL to acquire the minority stake in the Kenyan company, which is an England and Wales-incorporated franchise that owns Savannah Brands Company.
“This approval has been granted on the finding that the transaction is unlikely to negatively impact competition in the market for the manufacture, processing, distribution, and sale of alcoholic ciders, alcoholic spirits, and non-alcoholic ready-to-drink beverages,” said the CAK. The exact value of the deal has not been disclosed to the public.
Savannah Brands manufactures, processes, distributes, and sells alcoholic and non-alcoholic beverages, including Kenyan Originals (KO) Alcoholic Fruit Cider, Kenyan Originals Gin, and Kenyan Originals Iced Tea and Tonic.
Phoenix Beverages Limited, on the other hand, also manufactures and sells alcoholic and non-alcoholic beverages. Its parent company, IBL Group, a Mauritian business group for investment across Mauritius, Africa, Europe, Asia, and the Indian Ocean in different sectors, owns several businesses in Kenya, including Naivas Limited.
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The completion of the deal will give PBL minority controlling rights relating to budgets, annual business plans, and the appointment of senior executives, among others.
This acquisition marks a strategic move by PBL to expand its presence in the Kenyan market and further strengthens its position in the beverage industry.
With the CAK’s approval, PBL is set to enhance its offerings and market reach in Kenya, benefiting consumers and potentially driving further growth in the sector.
