James Finlay Kenya sells 85% stake to Sri Lankan firm

James Finlay Kenya has agreed to sell 85 per cent stake of the company to Sri Lanka's Browns Investments PLC.

The tea supplier, in a statement seen by Citizen Digital, says that the sale will be completed in the coming months.

"The sale will include all parts of James Finlay Kenya Ltd except the Saosa tea extraction facility. Saosa will remain under Finlays’ ownership and the business will continue to source leaf tea, timber and other services directly from James Finlay Kenya," the statement reads in part.

"While the sale process is concluded, operations for James Finlay Kenya will be business as usual, and a full plan is under development to ensure a smooth transition with no customer disruption."

The remaining 15 per cent of shares, the company added, will be sold to a locally-owned co-operative whose name it did not reveal.

"Browns and Finlays have mutually agreed to acknowledge the long-standing support of the local community by selling 15% of shares in James Finlay Kenya to a locally-owned co-operative," said Finlays.

"Finlays has identified a preferred third party which it is currently in discussions with."

Once the sale is finalised, Brown intends to rename the tea supplier and resume normal operations.

"There will be no change in the employment arrangements for current employees of James Finlay Kenya," said Finlays.

The development comes just two months after James Finlay Kenya suspended two contractors for sexually exploiting workers at the company's farm in Kericho. 

John Chebochock and John Asava were secretly filmed preying on women workers at James Finlays Kenya in exchange for employment. 

The women in the BBC Africa Eye expose narrated how they were infected with HIV by the two individuals, as they had to give in to their demands to get employed.