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Unga Group’s deal values NAS bakery at Sh1bn
Unga Group silos in Eldoret. The miller is seeking to diversify with re-entry into baking business. FILE PHOTO |
Flour miller Unga Group is set to spend Sh542 million on acquisition of a 52 per cent stake in a bakery that is owned by Kenya’s sole inflight caterer NAS Holdings.
The transaction values the takeover target at Sh1 billion in a deal that will see the Nairobi Securities Exchange-listed firm re-enter the baking business after its sale of Elliots Bakeries in the 1990s.
