Unga Group, a holding company based in Kenya, has entered into an agreement to sell all its Ennsvalley Bakery assets to BigCold Kenya.
Unga Group is involved with the manufacture and marketing of a broad range of human and animal nutrition products through its holding asset, Ennsvalley Bakery. Ennsvalley is a premium bakery, one of the largest in Kenya established 37 years ago by a Swiss baker. It specializes in a wide variety of delicious and healthy bread, rolls and pastries.
Unga Group currently holds majority ownership of 52% in Ennsvalley Bakery after purchasing shares from NAS holdings in 2014 at a cost of Ksh. 542 million. The remaining 48% stake is owned by NAS Holdings.
The proposed transaction, is however “subject to satisfaction of certain conditions and upon completion, Ennsvalley shall sell and BigCold shall purchase Ennsvalley’s assets,” according to a statement by the Group.
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).
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.
Unga Holdings Limited’s subsidiaries include Unga Limited, Unga Farm Care (EA), Ennsvalley Bakery and Unga Millers (U) . Over 90% of the company’s revenue is derived from Kenya with the remainder attributed to sales in Uganda, Tanzania and Rwanda.