The long awaited acquisition of Inyange industries by Brookside, a Kenyan diary firm, will be decided next month.

Inyange industries, the leading beverage manufacturer in the country wants to relinquish 51 per cent of its stake to Brookside Diary.

Inyange industries is currently 100 per cent owned by Crystal ventures ltd which wants to remain with 49 per cent stake in order improve efficiency.

According to Inyange industries management, Brookside technical team has been on the ground carrying out evaluation process of the company before the final decision could be taken.

Although management of Crystal Ventures Ltd did not reveal other potential investors that had expressed interest in acquiring Inyange, the beverage company confirms that Brookside Dairy is the leading investor who has been identified to takeover.

“Negotiations have been going on with Brookside and come next month, we shall announce the results from these negotiations whether the deal goes through or not,” said Elias Bayingana, chief executive of Crystal Ventures Ltd.

READ: Exclusive QandA with Crystal Ventures chairman

Inyange, with current investment of up to $70 million, will lose the decision-making role should it retain 49 per cent.

Three main production lines

The firm is engaged in three main production lines — milk, water and juice. The takeover is expected to build the company’s capacity in terms of expertise and financial resources in its quest to expand in the region.

Previously, Brookside and Inyange have been working with the Ministry of Agriculture and Animal Resources to seek partnerships in improving quality of milk and access to markets. Brookside has presence in Uganda, Tanzania and Kenya.

Business managers believe that this acquisition is good for Inyange, which is currently producing below capacity at less than 70 per cent.