Africa focused private equity firm Adenia Partners, has acquired a majority stake in Altilands SA, the parent company of Red Lands Roses, a grower of premium fresh-cut roses in Kenya for undisclosed amount.
Established in 1996 by agronomist, Isabelle Spindler, Red Lands operates a farm of 28 hectares, 35 kilometers northeast of Nairobi, at approximately 1,565 meters above sea level.
About Red Lands Roses
Red Lands is recognized globally as a leader in the production of spray roses and the Company produces 16 million stems per year which comprise of over 200 varieties of fresh-cut roses. The Company sells exclusively to wholesalers, predominantly serving markets in Russia, Eastern and Central Europe.
In a statement, Adenia said they invested in Red Lands due to its strong reputation for high-quality roses and advanced farming practices, being one of the first farms in East Africa to utilize 100% hydroponic farming. Adenia will collaborate with Red Lands’ management to accelerate the expansion of its production capacity through cultivation of an additional 20 hectares of land.
The investment will also lead to growth in the number of employees, a significant number of whom are women, from 500 today to nearly 750 in two years.