After Coca Cola consolidated its Southern Africa businesses in a $1.5billion merger, Kenya’s Centum has acquired an additional 3% shareholding in Almasi Beverages Limited to give them a majority stake of 50.95%, making Almasi a subsidiary of Centum.
Almasi operates Mount Kenya Bottlers Limited, Rift Valley Bottlers Limited and Kisii Bottlers Limited – and has the second largest share of the Coca Cola bottling business in the country.
In a statement, Centum CEO James Mworia said, “The intended acquisition of a controlling interest in Almasi is in line with our strategic objective of expanding our presence in the FMCG sector. Centum will continue working with the management of Almasi and of the three bottling companies to deliver improved experience to Almasi’s customers and stakeholders.”
If the estimated Ksh 100 billion acquisition is subject to approval by the Competition Authority of Kenya, Almasi’s three Coca-cola bottling companies will now become Centum’s and Centum will be the one to sell it to Coca Cola in the near future as the firm also aims to consolidate its regional operations.
iMG:Businessdailyafrica.com