, NAIROBI, Kenya, Feb 23 – Haco Chairman Dr Chris Kirubi has revealed his main reasons for regaining full control of Haco Industries.
Dr Kirubi, who bought out the full stake of the firm from Tiger Brands South Africa, attributed a fierce love for the company as one of his reasons.
“I like Haco Industries too much, I also believe in its potential,” Dr Kirubi told Capital FM Business.
The buyout comes eight years after Dr Kirubi sold 51 percent stake of the company to the South African firm.
A clash in opinions also drove the decision for the businessman to buy the stake.
Haco Industries Managing Director Peter Kang’ethe says that over the last two years, there have been many differences of opinion in the strategic direction of the business between the two companies.
“There was also an issue in that Haco industries has been intending to develop and strengthen its own brand, a move that would only be successfully implemented if Haco is a stand-alone company,” Kang’ethe said.
Matters of priority for the company going forward will include defending and expanding its market share and footprint in the region.
Additionally, the company plans to introduce new brands at undisclosed dates.
As far as getting new investors in the company is concerned, Kang’ethe says there are no such plans at the moment, with Dr Kirubi keen on holding onto the company.