Browns Investments PLC has completed its acquisition of James Finlay Kenya from Finlays.
Browns Investments PLC, a Sri Lankan company with a long history of operating plantation businesses, owns three tea-producing companies in Sri Lanka, with a total area of over 30,000 hectares and more than 10,000 employees.
James Finlay Kenya covers a self-contained area of 10,300 hectares, including 5,200 hectares of tea fields over nine tea estates.
As part of the sale agreement, Browns and Finlays have agreed to offer 15% of shares in James Finlay Kenya for public sale through the Kipsigis Highlands Multipurpose Cooperative Society, to acknowledge the support of the local community.
James Finlay Kenya will be renamed ‘Browns Plantations Kenya’ in due course. This is Brown’s first investment in the Kenyan tea industry, which it sees as an exciting opportunity for expansion. In December 2021, Browns acquired Finlays’ Sri Lankan tea estates business, which has been performing well under Browns’ management.
Finlays, which has a long history in Kenya, will continue to invest in the country through its ownership of the Saosa tea extracts facility and its tea sourcing and packing operation James Finlay Mombasa.
Kamantha Amarasekera, CEO of Browns Investments PLC, said: “We’re delighted to welcome all members of the James Finlay Kenya community into the Browns family. It’s an amazing business, powered by an incredible community, and superb growth potential which will not just benefit the community, but the Kenyan economy at large.”