By HERBLING DAVIDMore by this AuthorA Nairobi-based private equity firm has acquired Jambo Biscuits, the maker of confectioneries under the Britania brand. Catalyst on Monday announced it had completed buying out Jambo Biscuits for an undisclosed amount, seeking to ride on a projected growth in uptake of confectioneries and pastries by Kenya’s middleclass. Jambo Biscuits was founded in 1987 by Nitin Dawda, as a small bakery enterprise. The entity, which now employs about 300 workers, started off with biscuits but later diversified into snacks and confectionery. Jambo feeds the Kenya Defence Forces with high energy biscuits, as well as special food for relief agencies such as World Food Programme, Unicef, and non-governmental organisations.

Source: Daily Nation May 08, 2017 18:37 UTC