The Competition Authority of Kenya has given the go-ahead for the acquisition of Naivasha-based flower firm Bigot Flower Kenya by the United Kingdom investment holdings company Flamingo Horticulture Investment Limited.
This will now allow Flamingo to acquire the entire share capital of Bigot for an undisclosed amount.
The deal comes at a time that the flower industry is struggling, the margins shrinking by the day and growers struggling to supply the market and maintain Kenya’s position as a key producer of cut flowers and ornamentals.
While Flamingo is involved in the growing, processing, marketing, and distribution of roses and other cut flowers, Bigot grows, packages, markets, and distributes rose flowers.
“This approval has been granted based on the finding that the transaction is unlikely to negatively impact competition in the market for growing, processing, and exporting flowers, nor elicit negative public interest concerns, the two key considerations during merger analysis,” CAK said in a statement.
Read more at the-star.co.ke
