Sri Lanka’s Hemas Holdings PLC has taken a significant step in its international expansion, entering the Kenyan market through the acquisition of a 75% stake in Twiga Stationers & Printers Limited, a leading stationery manufacturer, for $16.2 million.

The transaction, carried out through Hemas subsidiary Atlas Axillia Company, marks the Group’s first international acquisition and establishes a strategic operating presence in one of East Africa’s dynamic consumer markets.

Twiga has built a strong position in Kenya’s stationery and learning products sector through established brands including Kasuku, CrownBird and Envoy. The company also has a regional export presence, providing Hemas with opportunities to expand its consumer brands footprint beyond the Kenyan market.

The acquisition is expected to create synergies between Twiga and Atlas Axillia, one of Sri Lanka’s best-known learning brands, particularly across education-related and back-to-school consumer segments.

Kenya, with a population exceeding 54 million and an economy valued at more than $136 billion, provides Hemas with access to a large and growing consumer market. The investment also represents a significant milestone in the Sri Lankan conglomerate’s journey towards building a broader international presence.

For Hemas, the acquisition goes beyond geographical expansion. It provides a platform from which the Group can combine its experience in consumer brands with Twiga’s established market presence and regional capabilities.

The move highlights the growing ambitions of Sri Lankan companies to pursue international opportunities and build home-grown businesses with a wider global footprint.