Hemas Holdings PLC yesterday announced the completion of the acquisition of a 75 percent stake in Kenya’s Twiga Stationers & Printers Limited for US $ 16.2 million. This is the diversified group’s first international acquisition, providing a platform for expansion across East Africa.
The acquisition was made through Hemas subsidiary Atlas Axillia Company (Private) Limited, according to a filing with the Colombo Stock Exchange (CSE) yesterday.
The transaction gives Hemas the control of one of Kenya’s leading stationery manufacturers and adds the Kasuku, CrownBird and Envoy stationery and learning brands to its consumer portfolio. Twiga also exports its products within the region.
The acquisition was completed nearly 11 months after Hemas signed a conditional share sale and purchase agreement on September 25, 2025. At the time, the group expected to close the deal within six months, subject to regulatory approvals and other customary conditions.
The Competition Authority of Kenya approved the transaction by January 2026, while the approval from the Central Bank of Sri Lanka and other conditions remained outstanding at that stage, an earlier CSE filing showed.
Hemas did not disclose Twiga’s revenue, earnings, valuation basis or the expected contribution of the acquisition to the group’s financial performance.
The deal expands the international operations of Hemas’ consumer brands business, which already has a presence in Bangladesh and gives the group manufacturing and distribution capacity in Kenya.
Hemas expects Twiga to complement Atlas Axillia, its Sri Lankan stationery and learning-products business, particularly in the back-to-school and education-linked consumer segments. The group sees potential synergies in brand development, product innovation, manufacturing and distribution.
“This is a pivotal step in Hemas’ internationalisation journey. Our entry into Kenya gives us access to a large, young and growing consumer market, while also creating a platform to explore the broader East African opportunity over time,” Hemas Group Chief Executive Officer Ashish Chandra said in a statement.
Meanwhile, Hemas Consumer Brands Managing Director Sabrina Esufally noted that East Africa and Bangladesh would form key pillars of the company’s international consumer strategy, with the regional markets expected to play an increasingly important role in the segment’s future growth.
Twiga’s manufacturing base and distribution network could initially support expansion in stationery, before Hemas considers introducing a broader portfolio of consumer products into the East African markets, she said.
Hemas cited Kenya’s gross domestic product of more than US $ 136 billion and population exceeding 54 million as factors supporting the investment.
