In Summary:
- Mauritius-based Phoenix Beverages Limited (PBL) secures a significant stake in a Kenyan beverage company.
- The Competition Authority of Kenya (CAK) approves PBL’s acquisition of a 28.15 percent share in Africa Originals Limited, the parent company of Savannah Brands Company.
- PBL’s investment signifies a strategic move to strengthen its foothold in Kenya’s beverage market, with implications for competition and industry dynamics.
In a recent buzz-worthy development, Phoenix Beverages Limited (PBL), headquartered in Mauritius, has made waves by acquiring a notable stake in a prominent Kenyan beverage company. The move, approved by the Competition Authority of Kenya (CAK), sees PBL securing a 28.15 percent share in Africa Originals Limited, the parent company behind the renowned Savannah Brands Company.
Savannah Brands is no stranger to Kenya’s beverage landscape, known for its diverse range of offerings including the popular Kenyan Originals (KO) Alcoholic Fruit Cider, Kenyan Originals Gin, and Kenyan Originals Iced Tea and Tonic. With this strategic investment, PBL aims to solidify its presence in both alcoholic and non-alcoholic beverage markets, positioning itself as a key player in Kenya’s thriving beverage industry.
Inside the Beverage Industry’s Newest Power Play
The CAK’s green light for this acquisition underscores its confidence that the move will not stifle competition within the sector. Additionally, PBL’s parent company, IBL Group, already boasts a significant presence in Kenya through various ventures, including the well-known Naivas Limited supermarket chain.
This latest development signals a shift in the dynamics of Kenya’s beverage market, with PBL’s entry poised to shake things up and pave the way for exciting changes ahead. Stay tuned as the Mauritian giants raise their glasses to a new chapter in Kenya’s drink scene.
