Unga Group Plc says it is in talks to sell Ennsvalley’s assets to BigCold Kenya.
The Kenya-based holding company is involved with the manufacture and marketing of a broad range of human nutrition, animal nutrition, in a cautionary announcement, Ennsvalley Bakery Limited entered into an agreement to sell all its assets to BigCold Kenya on 26th July 2021.
However, the proposed transaction is ‘subject to satisfaction of certain conditions and upon completion, Ennsvalley shall sell and BigCold shall purchase Ennsvalley’s assets,” the Group said.
BigCold is a logistics company providing sophisticated cold chain solutions across East Africa from its Nairobi hub. It is the only food storage and transport company in East Africa to achieve Food Safety System Certification 22000 (“FSSC 22000”).
On the other hand, Ennsvalley is a premium bakery, one of the largest in Kenya established 37 years ago by a Swiss baker. It specialises in a wide variety of delicious and healthy bread, rolls and pastries.
Unga Group holds majority ownership of 52 per cent in Ennsvalley Bakery after purchasing shares from NAS holdings in 2014 at a cost of KSh542 million. The remaining 48 per cent stake is owned by NAS Holdings.
According to Unga Group, further information on the asset purchase agreement will be disclosed upon satisfaction of the set conditions and completion of the transaction.