SRI LANKAN TYCOONS EYE KENYA’S LEADING CONSUMER FIRM

Sri Lanka’s Hemas Holdings has announced plans to acquire a majority stake in one of Kenya’s top consumer-products companies.
In a statement reported by EconomyNext, the Colombo-based conglomerate said it has signed a conditional share purchase agreement, with the transaction awaiting regulatory approvals from Kenyan authorities.
The firm did not disclose the name of the Kenyan company or the value of the deal but indicated the process is expected to be completed within six months.
The planned takeover highlights rising interest by Sri Lankan investors in Kenya’s fast-moving consumer goods sector. It follows similar moves such as Browns Investments’ recent purchase of James Finlay Kenya’s tea estates.
Hemas, a diversified group with interests in healthcare and FMCG across South Asia, said the acquisition will strengthen its footprint in the African market once the necessary clearances are secured.