Danone buys 40pc stake in Kenyatta family's Brookside Dairy
What you need to know:
- French yoghourt maker Danone said Friday it was buying a 40 per cent stake in Brookside.
- Deal gives them access to the largest milk collection and distribution networks in East Africa.
- Brookside had 2013 sales of around Shs15 billion and a 44 per cent share of the Kenyan dairy market.
French food group Danone has said it is buying a 40 per cent stake in Brookside, East Africa's top dairy producer, as part of plans to expand in new markets.
The Paris-listed company is seeking new opportunities amid weak growth in Europe and a slowing economy in China.
Dubai equity firm Abraaj Group, which is a long-time investor in Brookside, keeps its 10 per cent stake in Brookside.
The Kenyatta family, which before the deal owned a 90 per cent stake, will retain the rest of the capital.
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