Kenya – Flame Tree continues acquisition spree with SuzieBeauty deal

January 25, 2016

NSE listed manufacturing group Flame Tree has signed a deal to acquire colour cosmetic brand SuzieBeauty at an undisclosed cost.

The Mauritian firm which listed in the Nairobi Securities Exchange in 2014 is seeking to build its stake in the Sh5.4 billion industry in Kenya.

It recently acquired four brands from Beauty Plus Trading East Africa to tap into the growing popularity of local cosmetics.

“Suzie Beauty enjoys an outstanding reputation within its category and incredible awareness among beauty professionals and consumers,” Flame Tree CEO Heril Bangera said in Nairobi on Monday.

Mr Bangera said they could not reveal the value of the deal since it is subject to regulatory approval.

Last year, Flame Tree Group also acquired four food and snack brands from Chirag Kenya including Natures Own (spices), Chigs (potato crisps), Honeycomb (biscuits) and Gonuts (nuts). Source: Nation