Arnaud Lagesse's IBL Group looks to expand in Kenya

IBL Group, a multinational conglomerate led by Mauritian multimillionaire businessman Arnaud Lagesse, is considering expanding its operations in Kenya’s construction, agrochemicals, consumer goods distribution, and reinsurance industries.

The upcoming consolidation of Arnaud Lagesse’s multinational conglomerate through its string of recent acquisitions, including picking up a significant stake in Kenya’s leading supermarket chain Naivas International in 2022, is a strategic move timed to coincide with the company’s ongoing efforts to acquire majority stakes in undisclosed solar and pharma distribution firms.

As part of the move to broaden its operation and boost both its revenue and earnings, IBL Group is mulling plans to enter the local distribution of fast-moving consumer goods through its subsidiary BrandActiv, the distributor of major brands in food and beverages, personal care, and frozen products, including Heinz, Bic, Colgate, Ajax, and Cadbury, among others.

“Building on its first inroad within the Indian Ocean Islands, (BrandActiv) is seeking to consolidate its presence in those markets through new partnerships and also penetrate the Kenyan market,” the conglomerate stated in its most recent annual report.

The group is also looking to enter Kenya’s agrochemicals sector through its subsidiary Blychem, reinsurance through Ellgeo Re, and electrical and construction through CMH, all led by Mauritian multimillionaire businessman Arnaud Lagesse.

IBL Group is a leading Mauritian conglomerate and one of the island’s largest firms, with more than 200 brands spread over 19 countries.

Led by Arnaud Lagesse and his family, which own 16.8 percent of the company, the Mauritian conglomerate has evolved over the past 190 years by anticipating market trends, investing wisely, and surrounding itself with the greatest employees.

The Lagesse family, including Arnaud, Benoit, Hugues, Jean-Pierre, Thierry, and Stephane, serve as the company’s directors and largest shareholders, with a joint holding of 114,369,469 shares.

The Port Louis-based conglomerate reported a profit of MUR1.96 billion ($43.8 million) at the end of its 2022 fiscal year, which ended on June 30 — a 1,917-percent increase over the MUR97.4 million ($2.2 million) in profit earned from its operations last year.