History
Kenya Breweries was founded in 1922 by two white settlers, George and Charles Hurst.The company is owned by the Dodd family of Kenya. By 1990, most of the shareholders were Kenyan and the company was very successful.
Tanzania Breweries had been started by Kenya Breweries in the 1930s. After being nationalized in 1967, Tanzania Breweries was poorly managed. However, in 1993 the Tanzanian government entered into a joint venture with South African Breweries Limited to run Tanzania Breweries. South African Breweries is one of the largest and most efficient brewing companies in the world. They turned Tanzania Breweries around with extraordinary speed, almost tripling production in the space of three years.
In 2002 East African Breweries Limited (EABL) and SABMiller Plc. effected a share swap of their interests in their subsidiaries: Kenya Breweries Limited and Tanzania Breweries Limited. EABL acquired 20% of the equity of Tanzania Breweries. SABMiller Plc. acquired a 20% equity stake in Kenya Breweries.
The partnership between EABL and SAB Miller in Tanzania went through turbulence in 2009, EABL claiming breach of contract by Tanzania Breweries (TBL) that led to low quality of EABL’s drinks that were produced by TBL and restriction of some of Diageo’s and EABL brands to enter the Tanzanian market. This led to EABL’s acquisition of 51% of Serengeti Breweries Limited (SBL) and exit from TBL’s shareholder structure through successful IPO through the Dar es Salaam Stock Exchange. SAB Miller sold it stake Kenya Breweries to East African Breweries.
In 2003, Kenya Breweries consumed almost 6% of the Nairobi water supply.
In 2005, EABL became the first company in East Africa to reach US$1 Billion in value.
Read more about this topic: East African Breweries
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