M a r k e t N e w s

Kenyan Tycoon Naushad Merali Set To Open $30 Million Milk Factory

Posted on : Thursday , 13th October 2016

 Sameer Agriculture & Livestock Limited (SALL Kenya), a food processing company owned by Kenyan multimillionaire businessman Naushad Merali, is set to open a $30 million milk factory later this year in Kenya.

 
According to a report by Business Daily, SALL’s new dairy processing plant is currently being set up in Nakuru and will be operational by June next year. When completed, the plant is expected to employ an estimated 500 people.
 
“The plant that is under construction at Salgaa in Nakuru is a first of its kind in Africa with some of the most modern dairy production facilities,” said SALL CEO Sameer Merali during a news conference in Nairobi on Monday.
 
Apart from other dairy companies in Kenya, Merali’s new venture will compete with Brookside Dairies, Kenya’s largest milk processor which is jointly owned by the wealthy Kenyatta family and French food group Danone after a 2014 transaction in which the French company acquired a 40% stake in the business for $250 million.
 
SALL Kenya is a subsidiary of Sameer Group, a Kenyan conglomerate which Naushad Merali owns. Sameer Group has interests in financial services, property, agriculture and offshoring.

Source : www.forbes.com
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