Eveready East Africa
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| Company type | Public |
|---|---|
| KN: EVRD | |
| Industry | Consumer goods |
| Founded | 6 March 1967 |
| Headquarters | , |
| Products | Batteries |
| Website | Homepage |
Eveready East Africa is a Kenyan manufacturer and marketer of battery brands. It is headquartered in Nairobi, while maintaining a plant in Nakuru, Kenya.[1]
Overview
[edit]Eveready East Africa is an affiliate of the American Eveready Battery Company.[2] In addition to manufacturing and marketing batteries, Eveready East Africa also distributes a wide range of products such as shaving razors, blades and accessories under brand names Schick and Clorox household products.[3] Eveready East Africa is one of Africa's largest battery manufacturers, and is listed on the Nairobi Securities Exchange.[4]
History
[edit]Eveready East Africa was founded on 6 March 1967 as Union Carbide Kenya Limited, a subsidiary of US based Union Carbide Corporation. In the same year, ICDC and ICDC Investments (now Centum Investments) joined in as minority shareholders.[5]
The firm's name was changed to Eveready Batteries Kenya Limited on 24 October 1986. Sameer Group acquired a majority stake in the company in 1988 through its wholly owned subsidiary East Africa Batteries.[5]
2004 saw the company diversify into other consumer products, under the Schick brand, following the acquisition of Schick-Wilkinson Sword by Energizer Holdings. In the same year, the company name was changed to its current name of Eveready East Africa.[5]
The shares of Eveready East Africa were listed on the Nairobi Securities Exchange in 2006 through an initial public offering, which was over subscribed by 733%.[6]
Member companies
[edit]Other than battery manufacturing, Eveready East Africa has invested in real estate through its wholly owned subsidiary, Flamingo Properties. Flamingo Properties is based in Kenya, and in turn has a subsidiary, Flamingo Properties Uganda Limited, which is domiciled in Kampala, Uganda.[7]
Shareholding
[edit]The stock of Eveready East Africa is listed on the NSE, where it trades under the symbol EVRD. As of September 2015[update], the ten largest shareholders in the Group's stock are depicted in the table below:[7]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | East Africa Batteries Limited | 58.64 |
| 2 | Industrial & Commercial Development Corporation | 29.22 |
| 3 | Other | 12.14 |
| Total | 100.00 |
References
[edit]- ^ "Eveready East Africa 2013 Annual Report" (PDF). Eveready East Africa. Retrieved 2016-10-21.
- ^ "Profile: Eveready East Africa". Reuters. Retrieved 2016-10-21.
- ^ "About Us". Eveready East Africa. Retrieved 2016-10-23.
- ^ "NSE - Listed companies". Nairobi Securities Exchange. Archived from the original on 2020-09-28. Retrieved 2015-12-31.
- ^ a b c "Eveready East Africa IPO prospectus" (PDF). Eveready East Africa. 13 November 2006. Retrieved 2016-10-26.
- ^ "CMA 2007 Annual report". 2007-06-30. Retrieved 2016-11-02.
- ^ a b "EEA 2015 Annual Report" (PDF). Capital Markets Authority. 2015-09-30. Retrieved 2016-11-02.