Browns Investments PLC has successfully finalized the purchase of James Finlay Kenya, a prominent player in the Kenyan tea industry. The acquisition was officially completed on November 28, 2023, following the initial announcement of the sale in May 2023.
“We’re delighted to welcome all members of the James Finlay Kenya community into the Browns family,” stated Kamantha Amarasekera, CEO of Browns Investments PLC in a statement.
He further added “It’s an amazing business, powered by an incredible community, and superb growth potential which will not just benefit the community but the Kenyan economy at large.”
The Kenyan tea giant encompasses a self-contained area of 10,300 hectares, holding nine tea estates covering 5,200 hectares of tea fields. The purchase will exclude the Saosa tea extraction facility, which will remain under Finlays’ ownership and be rebranded as Finlays Extracts, Kenya.
James Finlay Kenya will be rebranded as ‘Browns Plantations Kenya.’ This follows Browns’ successful acquisition of Finlays’ Sri Lankan tea estates business in December 2021.
Also included in the agreement between Browns and Finlays is a commitment to recognize the longstanding support of the local community. As part of this, 15 percent of shares in James Finlay Kenya will be offered for public sale through the Kipsigis Highlands Multipurpose Cooperative Society.
James Woodrow, Group Managing Director of Finlays acknowledged the commitment stating “While this is the end of an era, we’re delighted that 15 percent of shares in James Finlay Kenya will be owned by members of the local community.”
Headquartered in Colombo, Browns Investments PLC has a long history in managing plantation businesses, including Maturata Plantations, Hapugastenne Plantations PLC, and Udapussellawa Plantations PLC. As one of the largest tea producers in Sri Lanka, Browns operates across 49 individual estates spanning over 30,000 hectares and employing over 10,000 individuals.
Finlays retains a presence in Kenya through its continued ownership of the Saosa tea extracts facility and its Kenyan tea sourcing and packing operation, James Finlay Mombasa.
