Amsons Group, a prominent manufacturing and energy company from Tanzania, is set to acquire up to a 100% stake in Kenya’s Bamburi Cement for $180 million (Sh23.2 billion), marking one of the largest investment deals within the East African Community (EAC). This acquisition, through its Kenyan subsidiary Amsons Industries Limited, underscores Amsons Group’s commitment to expanding its footprint in the East African cement sector and enhancing regional economic integration.
The binding offer at Sh65 per share represents a premium over Bamburi Cement’s current market price on the Nairobi Securities Exchange (NSE), demonstrating Amsons Group’s confidence in the company’s long-term potential and strategic value in Kenya’s market landscape. This move is aimed at strengthening Amsons’ presence in the region’s cement industry and fostering sustainable growth opportunities.
Founded in 2006, Amsons Group has diversified beyond bulk oil and petroleum products into manufacturing, with significant investments in cement production, wheat flour milling, and concrete manufacturing. The acquisition of Mbeya Cement in Tanzania and now Bamburi Cement in Kenya further solidifies its position as a key player in the regional manufacturing sector.
Amsons Group’s expansion strategy extends beyond cement, with plans for further investments in Kenya across various industries in the near future. This acquisition aligns with their vision to leverage advanced manufacturing technologies and replicate successes achieved in Tanzania, enhancing market competitiveness and operational efficiency.
Holcim, having sold its stake in Mbeya Cement to Amsons Group, recognizes them as a strategic partner capable of advancing Bamburi Cement’s business. This partnership reflects Holcim’s strategic focus on sustainable building solutions while entrusting Amsons Group to drive Bamburi Cement’s growth trajectory in Kenya.
Amsons Group’s entry into Kenya’s market marks a significant milestone in their corporate journey, leveraging their expertise and resources to contribute positively to Kenya’s economic landscape. With a strong foothold in fuel distribution and retail across multiple African countries, Amsons Group is poised to bring innovation and sustainable practices to the forefront of Kenya’s cement industry.
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