The assets owned by Kitui Flour Mills are set to cross the Sh. 1 billion mark. This follows the acquisition of Rafiki Millers Limited which has now been given the greenlight by the Competition Authority of Kenya (CAK).
Kitui Flour Mills, which manufactures the Dola maize and wheat flour, will take over 100 per cent of Rafiki Millers.
“The proposed transaction involves the acquisition of 100 per cent of the issued shares in Rafiki Millers Limited by Kitui Flour Mills Limited,” CAK said in its notice.
According to the CAK, Kitui was asked to seek approval for the transaction because the combined assets of Rafiki and Kitui millers exceeded Sh. 1 billion. These assets will now belong to Kitui Flour Mills.
Rafiki was operating a wheat milling and confectionary business until April 2021 when the company shut down.
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Currently, Kitui Flour is the third largest manufacturer in the wheat milling market in Kenya holding a share of 13 per cent, after Mombasa Maize Millers (22 per cent), makers of Taifa and Ndovu brands, and Ajab miller Grain Industries Limited (15 per cent).
