Flame Tree Group to acquire playground equipment manufacturer & distributor, PolyPlay Ltd
Nairobi Securities Exchange listed manufacturer and trading company, Flame Tree Group (NSE: FTGH) has announced its acquisition of PolyPlay Limited, a playground equipment manufacturer and distributor based in Nairobi, Kenya. The acquisition is subject to approval from The Competition Authority of Kenya.
PolyPlay has been in operation for the past 10 years and serves multiple market segments, including schools, daycare facilities, restaurants, hotels, resorts, and housing developments.
Mr.Heril Bangera, CEO of Flame Tree Group said in a statement, “We are very excited to add PolyPlay to our strong portfolio of brands. PolyPlay offers one of the most extensive collections of outdoor and indoor play lines in East Africa and has done an excellent job serving the growing playground recreation market in Kenya. With the rapid urbanization across Africa, we believe the acquisition represents immense growth potential not only in Kenya but across Africa as the demand for playground equipment in parts of Africa is still not satisfied.“
Mr.Derrick Correa, the founder and current Managing Director, will continue on at PolyPlay to grow the company. He will be responsible for ensuring continued growth and further development of PolyPlay brand in Kenya and across Africa.