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Eveready in another pact to stay afloat

BUSINESS
By Patrick Alushula | February 7th 2016

Eveready East Africa has signed a distribution deal with Clorox Sub Sahara Africa as it seeks to return to profitability.

The deal will see Clorox supply bleach products under its brand name with plans for other product lines under different brand names. The pact is part of the NSE-listed consumer goods firm's five year strategy to diversify products and deepen its regional presence.

Speaking at the company's headquarters in Nairobi during the launch of the partnership, Eveready Managing Director Jackson Mutua said the deal will also strengthen their market routes. "The partnership leverages upon Eveready's route to market capabilities and the promise of quality in Clorox's  brand. It is a winning partnership that we are very proud of," said Mutua.

The deal comes barely a month after the company posted Sh78 million loss for the financial year ended 30, 2015. However, the loss was a 56 per cent improvement from the 2014 loss of Sh178 million.

Last month, the company's share was the top gainer with 15.09 per cent growth, signaling increased market confidence. Since shutting down its loss-making Nakuru dry cell plant in 2014, the company has been aggressive in diversification drive and now targets to introduce at least five new products in the household and personal care categories by the year 2017.

Other strategic partnerships have been with Chloride Egypt to supply dry cells, Pakistan's Sayyed Engineers Limited to supply writing instruments and Supreme Imports to bring in a range of lighting products.

The company's strategic plan which begun in 2013 will be implemented by end of next year.

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