UAE-based B Commodities ME (FZE) has acquired a controlling stake in Limuru Tea through a share purchase agreement with Ekaterra Company.
The deal involves the acquisition of 51.99% of Limuru Tea’s issued share capital, giving B Commodities indirect control and beneficial ownership.
“On 6th May 2024, Ekaterra and B Commodities entered into a share purchase agreement for the sale of the share capital of various Ekaterra subsidies and /or affiliates in East Africa, including 95.56 % of the total issued capital of Lipton tea,” the firm said.
“The transaction will, upon completion, result in B commodities indirectly acquiring effective control and beneficial shareholding of Limuru tea equal to 51.99% of the issued share capital of Limuru Tea.”
B Commodities ME FZE, a subsidiary of Brown’s Investments (BIL) is to acquire controlling stakes of 4 tea plantation companies in Kenya, Tanzania & Rwanda with an annual tea production totaling to 48Mn kgs
With this, the group will produce over 85Mn kgs of made tea annually
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Limuru Tea is an outgrower that owns 282 acres of tea plantations in Limuru.
The deal strengthens B Commodities’ presence in the East African tea market.
This acquisition follows Browns Investments (Sri Lanka) ‘s purchase of all Lipton Teas and Infusions Kenya tea estates pending regulatory approvals.