Kenyan regulator approves beverages deal
Kenyan regulator approves beverages deal
The Competition Authority of Kenya has given approval for Bidcoro Africa's acquisition of Suntory Beverage & Food Kenya.
The Competition Authority of Kenya has given unconditional approval for Bidcoro Africa's acquisition of Suntory Beverage & Food Kenya.
Bidcoro, a Kenyan-incorporated company, specialises in the manufacturing, processing, marketing, and sale of concentrates, soft drinks, and ice lollies. Its portfolio includes brands such as Suntop, Sunquick, and Suncola. Bidcoro is a joint venture between Kenya’s Bidco Africa and Denmark's Coro, established to cater to the East African market.
Suntory Kenya, also incorporated in Kenya, is a subsidiary of Suntory Beverage & Food Asia. It produces, processes, distributes, and sells beverages under the Ribena and Lucozade brands.
The transaction involves Bidcoro acquiring the entire issued share capital of Suntory Kenya. The parties stated that the acquisition aims to address Suntory Kenya's underperformance by utilising Bidcoro's expertise in production and commercialisation.
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