Three Kenyan Coca-Cola bottlers merge to form Almasi Beverages
Three Kenyan Coca-Cola bottlers Mount Kenya, Rift Valley and Kisii Bottlers have merged to form a single entity - Almasi Beverages.
Almasi Beverages is set to become the second largest Coca-Cola bottler in Kenya with 29% market share, behind Nairobi Bottlers which enjoys 48% market share.
The merged entity, whose value is said to increase by 26% to KSh5.7bn ($65.9m), will soon have new directors and executive.
Almasi Beverages expects to save operation costs and plans to launch new products such as ready-to-drink coffee and tea.
Investment firm Centum and Industrial & Commercial Development Corporation (ICDC), which had 44% stake in Rift Valley, 28.6% stake in Mount Kenya and 23.8% stake in Kisii as of March 2012, has emerged as a key beneficiary of the merger with 40% ownership in Almasi Beverages.
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