Unga Group, Kenya-based manufacturing company, has announced the planned sale of Ennsvalley’s assets to BigCold Kenya.
According to the Nairobi Securities Exchange (NSE) listed firm, Ennsvalley Bakery Limited entered into an agreement to sell all its assets to BigCold Kenya on 26th July 2021.
However, the deal is subject to satisfaction of certain conditions.
“Following discussion, BigCold Kenya Limited and Ennsvalley Bakery Limited… have entered into an asset purchase agreement on July 26, under which, subject to satisfaction of certain conditions and upon completion, Ennsvalley shall sell and BigCold shall purchase Ennsvalley’s assets,” said Unga Group in a notice.
Further, the group said information on the asset purchase agreement will be disclosed upon satisfaction of the set conditions and completion of the transaction.
Ennsvalley is a premium bakery known for its healthy breads, rolls and pastries.
It supplies its products to major supermarket chains throughout Kenya, major hotels and restaurants, airlines, embassies, United Nations, Government Institutions, Fast food chains and schools.
The bakery is one of the largest in Kenya established 37 years ago by a Swiss baker.
Unga Group holds a majority ownership of 52 per cent in Ennsvalley Bakery after purchasing shares from NAS holdings in 2014 at a cost of Sh542 million.
The remaining 48 per cent stake is owned by NAS Holdings.
BigCold is a cold storage and cold chain logistics company in the country.
It is the only FSSC 22000 certified company in East Africa and offers its services to leading brands like; KFC, Subway, Pizza Hut, Farmers’ Choice, and Dairyland.