Energizer International products currently account for 80 per cent of Eveready East Africa’s total sales. This was disclosed by Eveready on Tuesday.
Eveready disclosed this in an attempt to explain to investors the essence of Eveready getting a contract renewal to continue distributing these products. The distribution agreement for Energizer products such as flashlights, batteries and Schick razors ended last month.
“We have an offer on the table. We are, however, opposed to some of the clauses,” chief executive Jackson Mutua said in an interview. Mr. Mutua further added that Energizer’s 10.5 per cent stake in Eveready is an independent investment that is not tied to the parties’ distribution deal which is the latest transformation of the partnership.