NAIROBI, Kenya, Nov 23 – The Competition Authority of Kenya (CAK) has approved acquisition of certain business and assets (distribution business) of Gilanis Supermarket by Oak Habour Holdings Limited.
Oak Habour Holdings Limited (Oak), the acquirer, is an investment holding company with interests in energy sector, cargo and freight handling, among others.
According to CAK, Oak does not operate any business in Kenya thus it did not generate any turnover or have assets in 2021.
“The Competition Authority of Kenya has approved the proposed acquisition of certain business and assets (distribution business) of Gilani’s Supermarket by Oak Habour Holdings Limited unconditionally,” CAK said in a statement.
The private equity fund, which is acquiring a controlling stake, is set to pump capital into the business.
“Post-merger the distribution business will be wholly owned and controlled by Oak. The transaction therefore qualified as a merger within the meaning of Section 2 and 41 of the Competition Act No. 12 of 2010,” the Authority added.
Started in 1974, Gilanis has grown to become Nakuru’s and former Rift-Valley’s region biggest retail and wholesale facility with interests in supermarket, hospitality and real estate.
The Supermarket, which sits on 58,000 square feet, offers a wide range of consumer goods and products. It is situated along Club Road, opposite the Rift Valley Sports Club (off of Kenyatta Avenue).
It also has a warehouse for bulk buying located along Sungura Road, Industrial Area with over 120,000 sq. ft of storage space, where all distribution products are stored.
The warehouse facility also houses a workshop department, which ensures effective management of the fleet.
Its real estate investments include Tower 1 and CBD Prestige in Nakuru.
