Danone to acquire 100% of Brookside Dairy Tanzania
(Ecofin Agency) - French dairy group Danone plans to become the majority stakeholder in the Tanzanian subsidiary of the Kenyan dairy firm Brookside Dairy. Without disclosing the terms of the acquisition, Danone informed the Tanzanian Fair Competition Commission (FCC) of its plans.
The move which is still to be approved by the FCC should see the French company acquire all the shares of the Kenyatta family in the firm. Moreover, Danone will keep a minority stake in Brookside Dairy units in Kenya and Uganda.
The acquisition is the most recent action of the French company’s expansion strategy in Africa. In the framework of its expansion across the continent, Danone partnered with the emirati venture capital fund Abraaj to acquire the capital of Ghanaian firm Fan Milk in 2013.
Most recently, in July 2014, the French firm acquired 40% of Brookside Dairy Ltd leaving the remaining 60% to the Kenyatta family (which previously 90% of the firm).