Industry Analysis

Browns Investments has finalized its acquisition of Lipton Teas in Kenya and Rwanda.

POZNAN, POL – MAR 28, 2019: Package of Lipton Yellow Label, a famous brand of tea produced by Lipton since 1890, now sold in over 150 countries worldwide by Anglo-Dutch multinational company Unilever

Browns Investments PLC has finalized its acquisition of Lipton Teas and Infusions’ businesses in Kenya and Rwanda, as confirmed in a disclosure to the Colombo Stock Exchange (CSE). The acquisition, executed through its fully owned subsidiary, B Commodities ME FZE, was completed on July 30, 2024.

Under this acquisition, Browns Investments acquired 98.94% of shares in Lipton Teas and Infusions Kenya PLC, 51.99% in Limuru Tea PLC, and 100% of Lipton Teas and Infusions Rwanda Limited. However, the acquisition of Lipton Teas and Infusions Tanzania Limited remains pending due to awaiting approval from the Fair Competition Commission of Tanzania.

Earlier this year, Lipton Teas and Infusions announced an agreement with Browns Investments to transfer its tea estates in Kenya, Rwanda, and Tanzania. The partnership includes a commitment that all tea sold by Browns worldwide will adhere to new standards for quality, social, and environmental protections.

In May, B Commodities ME FZE signed a Sales and Purchase Agreement (SPA) with Ekaterra Holdco UK Ltd. and Ekaterra Group Holdings BV of the Netherlands, to acquire the controlling stakes in the four companies. The final consideration will be calculated upon completion in accordance with SPA provisions.