Kenya, East Africa’s largest economy, is witnessing a wave of billionaire-backed investments as some of the continent’s and Asia’s richest businessmen move to capture its fast-growing consumer and industrial markets.
BL Industries Kenya, a wholly owned subsidiary of Varun Beverages, has signed an agreement to acquire the dairy beverages, juices and packaged drinking water business of Devyani Food Industries Kenya in a transaction expected to close by August 1, 2026.
Once completed, the deal will give Varun Beverages control of a 52-acre manufacturing site in Nakuru, Kenya’s fourth-largest urban centre, with 17,500 square metres of built-up area, key food safety certifications, advanced water purification systems and modern manufacturing machinery.
The $32 million investment in the beverage plant will place Ravi Jaipuria, widely known as India’s “Cola King” and valued by Forbes at $12 billion, alongside Nigerian billionaire Aliko Dangote and Tanzanian billionaire Mohammed Dewji, who have also been expanding their investments in Kenya’s industrial and consumer markets.
PepsiCo Deal Gives Jaipuria More Room
