Browns Investments completes acquisition of Lipton tea businesses in Africa

Tuesday, 6 August 2024 01:02 - - {{hitsCtrl.values.hits}}

Browns Investments PLC revealed that the acquisition of the shares in Kenya and Rwanda was completed on 30 July under SPA to acquire shares in Lipton Teas and Infusions companies in Kenya, Tanzania, and Rwanda.

This acquisition was executed through its wholly owned subsidiary B Commodities ME FZE, incorporated in the United Arab Emirates.

The acquisition of Lipton Teas and Infusions Tanzania Ltd., another target company, is still pending due to the outstanding approval from the Fair Competition Commission of Tanzania.

It has acquired 98.94% of Lipton Teas and Infusions Kenya PLC (LTIK) in Kenya, 51.99% of Limuru Tea PLC in Kenya, in which LTIK owns 51.99%, and 100% of Lipton Teas and Infusions Rwanda Ltd., Rwanda.