South Africa’s Bounty Brands cancels Kenya buyout plan

What you need to know:

  • The Johannesburg bourse-bound firm now says it has opted to make acquisitions in Europe; and has resorted to directly supplying its goods to Kenya through a distributor.
  • Their brands span a number of consumer sectors, including food, personal and home care as well as apparel.
  • Its food business consists of the Sonko rice brand, Liberty (canned food), and Rieses (dried groceries, confectionery and oils).

South Africa’s fast-moving consumer goods maker Bounty Brands has put on ice plans to acquire a Kenyan firm as a springboard to the East African market, instead opting to ship in supplies.

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