Britannia acquires Kenafric Biscuits of Kenya

4 Oct 2022 , 08:03 AM

On Monday, Britannia Industries announced that it had fully taken over Catalyst Britania Brands and purchased a majority stake in Kenya’s Kenafric Biscuits Ltd.

In a regulatory filing, Britannia Industries stated that its wholly-owned subsidiary Britannia and Associates (Dubai) Pvt Co Ltd (BADCO) has subscribed to 51% of the equity share capital of Kenafric Biscuits Ltd (KBL), a private limited liability company founded in Nairobi, Kenya.

The acquisition cost was 13.87 crore Kenyan Shillings (KES), or Rs9.2 crore

Britannia Industries added that BADCO has purchased all of Catalyst Britania Brands Ltd.’s equity share capital for Kenyan Shillings (KES) 2.14 crore (Rs1.42 crore), converting it into a 100% subsidiary.

The “Britania” trademark is owned by investment firm CBBL in Kenya. According to the filing, the trademark “Britania” is distinct from the trademark “Britannia” owned by Britannia Industries Ltd., it continued.

KBL has since been downgraded to a subsidiary of Britannia Industries. KBL has not yet started operations, so there is no turnover to report, according to the corporation.

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