Hemas Holdings acquires majority stake in Kenyan stationery firm Twiga Stationers for $16.2 million
Hemas Holdings PLC, a diversified Sri Lankan conglomerate, has entered the East African market through the acquisition of a majority stake in Twiga Stationers & Printers Limited, a Kenyan company.
The acquisition, valued at $16.2 million, involved Hemas's subsidiary Atlas Axillia Company securing a 75 percent stake in Twiga Stationers. This move marks Hemas Holdings' first international acquisition.
According to Hemas Group CEO Ashish Chandra and Hemas Consumer Brands Managing Director Sabrina Esufally, this acquisition strengthens the Consumer Brands portfolio and establishes a platform for regional growth.
Why it scored 5/10: The acquisition represents a notable expansion for a major Sri Lankan conglomerate into an international market, impacting its economic footprint and potentially setting a precedent for other local businesses.
Reported by 6 sources
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