The Competition Authority of Kenya (CAK) has approved the proposed acquisition of the entire issued share capital of Phima Flowers by the Dutch investment holding company Marcoz Holding.
CAK said in a statement that it found that the transaction is unlikely to negatively impact competition in the market for growing, processing, and exporting flowers nor elicit negative public interest concerns.
Marcoz directly controls two companies operating in Kenya; one specializing in logistics solutions for fresh-cut flowers, herbs, cuttings, produce, and fruits moving through key international trade lanes; while the other consolidates flowers from growers in Kenya and ships them worldwide.
Phima Flowers is a holding company and has no operational presence in Kenya. Pharma Flowers controls several undertakings incorporated in Kenya that are growers and exporters of cut flowers.
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