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- IBL Group, a multinational conglomerate has acquired an undisclosed stake in Harley’s, a pharmaceutical distributor based in Kenya.
- The transaction marks the group’s latest investment in Kenya, following the acquisition of a 26.32-percent stake in Naivas Limited for Ksh12.5 billion (US$100 million) last year.
- IBL revenues for six months ended 31 December 2022 increased by 24 per cent to Rs 27.06 billion. Operating profit for the Group has increased to Rs 1.99 billion from Rs1.65 billion in 1H2022, representing a growth of 20 per cent.
Mauritian conglomerate Ireland Blyth Limited (IBL) has bought an undisclosed stake in Nairobi-based pharmaceuticals distributor Harley’s as part of a consortium that has taken control of the company.
This marks the latest investment in Kenya for IBL which last year acquired a 26.32 per cent stake in supermarket chain Naivas Limited for US$100 million (Sh12.5 billion) also as part of a consortium, underscoring the group’s …