FINANCIAL CHRONICLE – Hemas Holdings, a prominent Sri Lankan conglomerate, has received approval from the Competition Authority of Kenya (CAK) to acquire a 75 percent stake in Twiga Stationers and Printers Limited, a leading stationery manufacturer in East Africa. This development was disclosed by the company in an announcement to the Colombo Stock Exchange.
The acquisition will be executed through Hemas Holdings’ subsidiary, Atlas Axillia. The Sri Lankan company initially revealed its plans to acquire the Kenyan firm in September 2025, predicting the transaction would be completed within six months, contingent upon receiving the necessary regulatory approvals.
“Currently, the Company is progressing with the other conditions precedent, including approval from the Central Bank of Sri Lanka,” stated Hemas in its disclosure. The financial details of the purchase have not been made public.
Twiga Stationers and Printers Limited, based in Kenya, is involved in the production of stationery, hygiene, packaging, and coffee products. It holds a significant position in the Kenyan stationery market, with a 49.4% market share, according to the CAK filing. The company also operates in Uganda, Rwanda, Zambia, Madagascar, and other East African nations. Twiga’s well-known stationery brands include Kasuku and Crownbird, alongside hygiene products such as consumer tissues under the Peacock and Envoy brands.
(Colombo/January 28/2026)
