Adenia acquires leading grower of premium roses in Kenya
Adenia Partners, a private equity firm investing in Africa, has acquired a majority stake in Altilands SA, the parent company of Red Lands Roses (“Red Lands”), a leading grower of premium fresh-cut roses in Kenya. Red Lands is internationally recognized for its green horticultural practices that respect people and the environment. Financial terms of the transaction were not disclosed.
Established in 1996 by agronomist, Isabelle Spindler, Red Lands operates a farm of 28 hectares, 35 kilometers northeast of Nairobi, at approximately 1,565 meters above sea level. Red Lands’ premium fresh-cut roses have fuller heads, longer stems, and an enviable vase life of 12 to 21 days which not only provides value for its targeted premium florist market, but also ensures an overall lower carbon emissions...