Mombasa-based manufacturer Pwani Oil Products has bought stationery firm Kartasi Industries Limited for an undisclosed sum, seeking to further diversify its business.
The Competition Authority of Kenya (CAK) said it had approved the deal on the condition that Kartasi’s 69 permanent employees are retained for 12 months after the transaction is concluded.
Pwani Oil has been expanding its consumer base by buying brands packaged and priced for different consumer segments, including low-income households.
The company has been on an expansion drive by acquiring the popular Ushindi soap brand, boosting its presence in the fast-growing personal and home care products category.
Pwani Oil also acquired the Rainbow detergent soap brand from Match Masters Limited.
The company’s cooking oil business recently took a hit after the company was forced to temporarily shut down its oil plant due to a shortage of raw materials, which it blamed on difficulties accessing dollars to pay suppliers on time.
See Also:
