Bidco Africa, a leading manufacturer of fast-moving consumer goods (FMCG) in East Africa led by Kenyan tycoon Vimal Shah, has secured approval to acquire Suntory Beverage Food Kenya Limited, the company behind the Ribena and Lucozade brands in Kenya.
The Competition Authority of Kenya (CAK) announced this week that the acquisition, which involves the transfer of all issued share capital of Suntory Kenya to Bidco Africa, making Suntory Kenya a wholly-owned subsidiary of Bidco, will proceed without any conditions.
The CAK stated that the deal aims to address Suntory Kenya's underperformance by leveraging Bidco's extensive experience in production and commercialization. The regulatory body also confirmed that the transaction would not harm competition within Kenya's non-alcoholic ready-to-drink (NARTD) beverage market.
No job losses expected as integration beginsAs part of the acquisition, Suntory Kenya's contract manufacturing business will be integrated into Bidco's operations. The CAK emphasized that the transaction is unlikely to reduce competition in the NARTD sector, and Suntory employees are expected to retain their positions under similar terms.
