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Published on Mar 12, 2015
The flame tree group has delved into the food business with the acquisition of four food and snack brands from Chirac Kenya. The listed company is making a play into the food business as part of a strategy to grow its fast moving consumer goods portfolio. The company did not disclose the amount involved in the deal, only stating that the four brands had a turnover of 90 million shillings in 2014. The four brands flame tree is making a play for include the nature’s own range of spices, chigs potato crisps, honeycomb biscuits and the nut processing business. As part of the deal, flame tree will also be acquiring the company’s 60 employees and the Nairobi-based factory and distribution assets. According to the group ceo heril bangera the deal is expected to boost earnings while diversifying its fmcg portfolio. Flam tree is well known in the market for its, roto tanks and zoe cosmetics products.