FTG Holdings Limited (NASE:FTGH) agreed to acquire Chirag Kenya from Chirag Amin on March 12, 2015. Chirag Kenya had a turnover of KES 90 million for 2014. Under the terms of the deal, FTG Holdings will acquire Chirag Kenya's four food and snack brands - Natures Own, Chigs, Honeycomb and Gonuts. FTG will continue manufacturing the brands under Chirag Africa, a newly formed entity and will absorb Chirag Kenya's 60 employees under the deal and take over the factory and distribution channels. The transaction is financed through internal cash reserves. The deal is subject to regulatory approvals and ratification by the board and is expected to be complete in the coming months. The transaction is highly earnings accretive for FTG Holdings.

FTG Holdings Limited (NASE:FTGH) completed the acquisition Chirag Kenya from Chirag Amin on July 22, 2015. The transaction has been approved by the Competition Authority.