Sri Lanka’s Hemas enters Kenya with $16.2 million stationery firm acquisition
EconomyNext: Sri Lanka’s Hemas Holdings, through its subsidiary Atlas Axillia Company, has acquired a 75 percent stake in Twiga Stationers & Printers Limited, a Kenya stationery manufacturer, for 16.2 million dollars.
This is Hemas’ first international acquisition, the company said in a stock exchange filing.
“It also positions Hemas with a strong operating platform in Kenya, one of East Africa’s most dynamic consumer markets, with a GDP of over $ 136 billion and a young, growing population of over 54 million.”
Twiga is the owner of well-known stationery and learning brands including “Kasuku”, “CrownBird” and “Envoy”, with regional exports.
“The acquisition strengthens Hemas’ Consumer Brands portfolio and creates meaningful synergies with Atlas Axillia, Sri Lanka’s leading learning brand, particularly in the back-to-school and education-linked consumer segments.”
OSL take:
The growing international expansion of Sri Lankan companies is providing a fresh indication of the country’s private sector capacity and could strengthen Sri Lanka’s appeal as a destination for foreign businesses seeking investment and partnership opportunities. Hemas Holdings’ acquisition of a 75% stake in Kenya-based Twiga Stationers & Printers, marking its first international acquisition, highlights the increasing ability of Sri Lankan companies to mobilise capital, develop brands and compete in overseas markets. Such expansion also demonstrates the potential for local businesses to serve as credible partners for foreign businesses/investors seeking to establish operations or enter regional markets from Sri Lanka. Sri Lanka’s private sector has developed capabilities across consumer goods, manufacturing, apparel, agriculture, tourism, logistics, technology, healthcare and financial services. This creates opportunities for foreign companies to form joint ventures, strategic partnerships and supply-chain relationships with established local businesses rather than entering the market independently. The growing sophistication of Sri Lankan companies, combined with the country’s strategic location, skilled workforce and established commercial networks, could provide a platform for foreign businesses/investors seeking access to both the domestic market and wider South Asian and Indian Ocean markets. As local companies increasingly look overseas for growth while the Sri Lankan Government seeks greater foreign investment, there is potential for a two-way investment model in which international capital, technology and market expertise are combined with Sri Lankan entrepreneurial capacity, local knowledge and established business networks. Such partnerships could help create new industries, expand exports and strengthen Sri Lanka’s position as an investment and business hub.
| Article Code : | VBS/AT/20260831Z_8 |