FINANCIAL CHRONICLE – Hemas Holdings, via its subsidiary Atlas Axillia Company, has secured a 75% ownership stake in Twiga Stationers & Printers Limited, a manufacturer of stationery based in Kenya, for a total of $16.2 million.
This marks Hemas’ inaugural venture into international acquisitions, as reported in a recent filing with the stock exchange. The company noted that this move establishes a robust operational presence in Kenya, which is recognized as one of the most vibrant consumer markets in East Africa, boasting a GDP exceeding $136 billion and a youthful population surpassing 54 million.
Twiga Stationers is recognized for its prominent stationery and educational brands, including “Kasuku,” “CrownBird,” and “Envoy,” and it also engages in regional export activities.
The acquisition enhances Hemas’ portfolio in Consumer Brands and fosters significant synergies with Atlas Axillia, Sri Lanka’s top educational brand, particularly in the sectors related to back-to-school shopping and education-oriented consumer products.
On the stock market, Hemas shares closed unchanged at 31.40. (Colombo/Aug17/2026)
