CAK gives Del Monte greenlight to acquire 100% Mananasi Fibre Ltd’s shares

The Authority said that the approval will not affect competition for textile-grade pineapple fibre, compost production, and biochar production in Kenya. 

"The integration of operations and subsequent scaling up of production are likely to create additional employment opportunities for both skilled and unskilled workers," said CAK in a statement.

"The transaction will enable the acquirer bring on board pineapple waste disposal solution."

The Authority added that the approval was made after the parties satisfied the provisions of sections 2 and 41 of the Competition Act Cap 504.

MFL specializes in waste management, particularly the transformation of pineapple plant waste into valuable products. It's primary activities include fibre extraction, compost production, biochar manufacturing.

Biochar is a form of charcoal used to improve soil health and sequester carbon. It is an alternative to fertilizer that is made by burning organic material from agricultural and forestry wastes in a controlled process called pyrolysis.

Other biochar producers in Kenya are Cookswell Jikos Limited, Biochar Life, Biosorra and Tera Carbon.