Mauritius’ Rogers Group buys out Kenyan transport firm

Mauritian conglomerate Rogers Group has acquired Rongai Workshop & Transport Limited through one of its subsidiaries Velogic Logistics as part of its regional expansion strategy.

The multinational did not disclose the value of the transaction which has seen the exit of the Vanessa Evans family which founded the logistics firm in Rongai in 1947.

“In this context, the group’s international development strategy is particularly relevant, with the recent acquisition of Rongai Workshop & Transport Ltd in Kenya, a buoyant market for the logistics sector,” Rogers said in a statement.

“This acquisition will allow Velogic, a subsidiary of Rogers, to strengthen its presence on the African continent, while benefiting from the growth prospects of this buoyant market.”

The multinational said the buyout will strengthen the market position of its logistics subsidiary Velogic which has been present in Kenya since 2016.

Rongai Workshop & Transport is the second-largest road transport company in terms of regional destinations served, the multinational said.

The trucking firm has tea companies among its top clients and runs a fleet of 160 vehicles besides employing 270 people. It reported sales equivalent to Sh220 million (Rs80 million) in the quarter that ended in December 2022.

Source: Business Daily Africa