Unga Group, one of the major food manufacturers in Kenya, has announced the planned sale of Ennsvalley’s assets to BigCold Kenya. According to the NSE listed firm, Ennsvalley Bakery Limited entered into an agreement to sell all its assets to BigCold Kenya on 26th July 2021. The deal is subject to satisfaction of certain conditions.
BigCold is a cold storage and cold chain logistics company in Kenya. It is the only FSSC 22000 certified company in East Africa and offers its services to leading brands like; KFC, Subway, Pizza Hut, Farmers’ Choice, and Dairyland.
Ennsvalley is a premium bakery known for its healthy breads, rolls and pastries. It supplies its products to major supermarket chains throughout Kenya, major hotels and restaurants, airlines, embassies, United Nations, Government Institutions, Fast food chains and schools. The bakery is one of the largest in Kenya established 37 years ago by a Swiss baker.
Unga Group holds a majority ownership of 52% in Ennsvalley Bakery after purchasing shares from NAS holdings in 2014 at a cost of KSh542 million. The remaining 48% stake is owned by NAS Holdings.
According to Unga Group, further information on the asset purchase agreement will be disclosed upon satisfaction of the set conditions and completion of the transaction. The company has advised investors to exercise caution while dealing in its shares at the Nairobi Securities Exchange.
Also read: Unga Group reports 30% drop in profit
