By PATRICK ALUSHULAMore by this AuthorRai family-owned Menengai Group is set to acquire water bottler and beverages firm Aquamist, giving it a footprint in the business. The Competition Authority of Kenya (CAK) has given its nod to the proposed transaction that will see Menengai acquire the entire issued share capital of Aquamist through Aquapani Limited. Besides being in the water bottling and distribution business, Aquamist also has Vital Juices and Aquamist-branded iced teas and flavoured water targeted at premium hospitality facilities such as luxury hotels and restaurants under its product portfolio. The Aquamist deal will deepen Rai family’s business portfolio that currently includes manufacturing of cooking oils, soaps and wood products. “Post-merger, the structure and concentration of the bottled water market is unlikely to change since the acquirer is not in the same market,” said CAK, noting it expects Aquamist to still face competition even after the deal.

Source: Daily Nation May 02, 2019 19:30 UTC