SlideShare a Scribd company logo
1 of 7
Download to read offline
DATUM INTEL
Premium Research and Consulting Solutions
MNCs Controlling the Dairy Industry Market in Kenya through M&A
FMCG Series: Dairy Products in Kenya
August 2016
Page 1
©DatumIntelLtd
Dairy Products in Kenya| August 2016| Datum Intel| Confidential
Summary
• The Kenyan market is developing steadily, with the economic growth creating a large middle class and
with it, bigger opportunities for FMCG companies.
• Local brands continue to dominate the market in 2016, and this has incentivized multinational companies
(MNCs) to shift their entry strategies.
• To successfully compete in the Kenyan market, MNCs are now adopting accelerated
internationalization strategy through aggressive outward FDI, especially in the form of mergers and
acquisition (M&A).
• Through the recent M&A strategies in the Dairy industry in Kenya, MNCs have acquired and possessed
tangible and intangible strategic assets of the established local brands.
• This has enabled them to compensate for their competitive disadvantages for late entry into the
market. M&A strategy is therefore an effective mechanisms to secure established brands, and gain
quick access to advanced technology and control the African markets.
• With recent acquisition of Ilara, Tuzo, Molo, Fresha, Buzeki and Delemere brands, the M&A between
Danone and Brookside now positions the company as a market leader in the dairy industry.
• Taking fresh milk category as an example, Brookside and other acquired brands places the company
ahead of their competitors with a market share of 67% on the popular 500ml pack sizes between
January and July 2016.
Dairy Kenya
Page 2
©DatumIntelLtd
Dairy Products in Kenya| August 2016| Datum Intel| Confidential
Fresh Milk Dominated the Dairy Products Category in 2016 with an
Average Value Share of 52% between January and July
6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0%
8.0% 8.0% 8.0% 7.0% 8.0% 8.0% 8.0%
9.0% 9.0% 9.0% 8.0% 8.0% 8.0% 7.0% 8.0%
22.0% 22.0% 24.0% 23.0% 21.0% 20.0% 20.0% 22.0%
50.0% 50.0% 49.0% 51.0% 52.0% 54.0% 54.0% 52.0%
0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
2.0%2.0%2.0%2.0%2.0%2.0%2.0%2.0%
2.0%2.0%2.0%2.0%2.0%2.0%2.0%3.0%
8.0%
100%
Cheese
Fresh Milk
Sour Milk
Condensed Milk
Butter
Average
Powder Milk
Dairy Creams
July
Yoghurt
May JuneFebruaryJanuary AprilMarch
Consumption of Fresh Milk Increased between April and July while Yoghurt Consumption Declined
Notes: Data covers all dairy product categories in the tier 1, 2 and 3 of the Kenyan retail segments. The analysis excludes information on the general trade
Source: Datum Intel Consumer Survey (n=152), Datum Intel Analysis
Strong tea culture spurred the growth in consumption of fresh milk. The upward trajectory is reflected in the months of April to
July, which are the coldest months of the year in Kenya
Dairy Kenya
Page 3
©DatumIntelLtd
Dairy Products in Kenya| August 2016| Datum Intel| Confidential
500ml Fresh Milk Pack Size is the Most Consumed SKU in Kenya at 74%,
with Brookside as the Leading Brand with 28% market Share in 2016
9.0% 9.0% 10.0% 9.0% 9.0% 9.0%
7.0% 9.0%
9.0% 11.0% 10.0% 11.0% 10.0% 9.0%
11.0%
10.0%
13.0% 11.0% 11.0% 12.0% 12.0% 12.0% 13.0% 12.0%
14.0% 13.0% 13.0% 12.0% 12.0% 12.0% 14.0% 13.0%
22.0% 21.0% 22.0% 21.0% 21.0% 21.0% 23.0% 22.0%
28.0% 27.0% 27.0% 28.0% 28.0% 28.0% 28.0% 28.0%
1.0%1.0%1.0%1.0%1.0%1.0%1.0%1.0%
1.0%1.0%1.0%1.0%1.0%1.0%1.0%1.0%
2.0%2.0%2.0%2.0%2.0%2.0%2.0%2.0%
2.0%3.0%
4.0%
DELAMERE
OTHERS
KCC
BROOKSIDE
ILARA
FRESHA
TUZO
DAIMA
MOLO
June
100%
5.0%
May
4.0%
April AverageJanuary
4.0%
March
5.0%
February
4.0%
July
PREMIER
Brookside Controls 67% of the Fresh Milk Category on the Dairy Industry after Successful M&A
Note: Data covers only fresh milk products, taking only 500ml pack sizes. The analysis excludes all other dairy products
categories
Source: Datum Intel Consumer Survey (n=152), Datum Intel Analysis
Dairy Kenya
Page 4
©DatumIntelLtd
Dairy Products in Kenya| August 2016| Datum Intel| Confidential
500ml and 500g (Daima) Yoghurt Pack Size is the Most Consumed in
Kenya at 37%, with Daima as the Leading Brand at 26% share in 2016
6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0%
7.0% 7.0% 7.0% 7.0% 7.0% 6.0% 7.0%
7.0% 8.0% 7.0% 8.0% 8.0% 8.0% 8.0%
16.0% 15.0% 17.0% 15.0% 14.0% 17.0% 16.0%
18.0% 18.0% 19.0% 20.0% 20.0% 19.0% 19.0%
26.0% 26.0% 25.0% 25.0% 26.0% 26.0% 26.0%
6.0%6.0%6.0%6.0%6.0%
5.0%5.0%5.0%5.0%5.0%5.0%5.0%
5.0%5.0%5.0%5.0%5.0% 6.0%6.0%
ILARA
LYONS
100%
FRESHA
OTHERS
FebruaryJanuary June
5.0%
May
5.0%
TUZO
KCC
DELAMERE
BROOKSIDE
DAIMA
AverageAprilMarch
Note: Data covers only yoghurts category, taking only 500ml pack sizes and 500g for Daima brand. The analysis excludes all other dairy products
categories
Source: Datum Intel Consumer Survey (n=152), Datum Intel Analysis
Daima boasts as a brand leader with a huge margin of 6% above the immediate competitor Brookside
Dairy Kenya
Page 5
©DatumIntelLtd
Dairy Products in Kenya| August 2016| Datum Intel| Confidential
Additional Information
• For the FMCG companies in the Dairy Industry in Kenya, these trends are of great value not only to better
understand the market, but also to unearth sources of future market growth for the industry. Should you
wish to obtain additional information, you will also find hidden opportunities in the most current
research data available, understand competitive threats with our detailed market analysis, and plan your
corporate strategy with our expert qualitative analysis and growth projections. Our research will save you
time and money while empowering you to make informed, profitable decisions.
• To find out more about the study and what companies and brands can do to win in the Kenyan market,
please contact us at consult@datum-intel.com or visit www.datum-intel.com. We are more than happy to
share with you our insights.
• You can also speak to us on +254 727 203 444 or +254 722 924 782 and request for more information, or
request for the presentation of our findings or comments on the same.
Thank you!
Dairy Kenya
Page 6
©DatumIntelLtd
Dairy Products in Kenya| August 2016| Datum Intel| Confidential
Copyright and disclaimer
© 2016 Datum Intel Ltd. All rights reserved.
All information, analysis, forecasts and data provided by Datum Intel Ltd is for the exclusive use of subscribing persons or organizations (including
those using the service on a trial basis). All such content is copyrighted in the name of Datum Intel, and as such no part of this content may be
reproduced, repackaged, copied or redistributed without the express consent of Datum Intel Ltd.
All content, including forecasts, analysis and opinion, has been based on information and sources believed to be accurate and reliable at the time
of publishing. However, in view of the natural scope for human and/or mechanical error, either at source or during production, Datum Intel
accepts no liability whatsoever for any loss or damage resulting from errors, inaccuracies or omissions affecting any part of the publication. All
information is provided without warranty, and Datum Intel makes no representation of warranty of any kind as to the accuracy or completeness of
any information hereto contained.

More Related Content

Recently uploaded

Voltas turnaround strategy management case
Voltas turnaround strategy management caseVoltas turnaround strategy management case
Voltas turnaround strategy management caseAnkit Sarkar
 
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch Deck
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch DeckPodvertise.fm - Podcast Advertising Marketplace - Startup Pitch Deck
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch DeckNedko Nedkov
 
Advertising and public relations, Role and Impact
Advertising and public relations, Role and ImpactAdvertising and public relations, Role and Impact
Advertising and public relations, Role and ImpactMuhammad Junaid
 
Imposter Syndrome in Marketing & Why You're Not Alone
Imposter Syndrome in Marketing & Why You're Not AloneImposter Syndrome in Marketing & Why You're Not Alone
Imposter Syndrome in Marketing & Why You're Not AloneHerd
 
Run more experiments with fewer resources
Run more experiments with fewer resourcesRun more experiments with fewer resources
Run more experiments with fewer resourcesVWO
 
The 2024 Next Gen Attention Study - www.livewire.group
The 2024 Next Gen Attention Study - www.livewire.groupThe 2024 Next Gen Attention Study - www.livewire.group
The 2024 Next Gen Attention Study - www.livewire.groupLivewire
 
A navigation of two creative processes Study
A navigation of two creative processes StudyA navigation of two creative processes Study
A navigation of two creative processes Studystuwilson.co.uk
 
Dhanuka Agritech Limited - Sales and Marketing Intern
Dhanuka Agritech Limited - Sales and Marketing InternDhanuka Agritech Limited - Sales and Marketing Intern
Dhanuka Agritech Limited - Sales and Marketing Internrisabhpandeyconnect
 
Harnessing Social Media for Marketing Growth
Harnessing Social Media for Marketing GrowthHarnessing Social Media for Marketing Growth
Harnessing Social Media for Marketing Growthabinashdm2014
 
Elevate Your Design Skills: Enroll in Pune's Premier UI/UX Design Course
Elevate Your Design Skills: Enroll in Pune's Premier UI/UX Design CourseElevate Your Design Skills: Enroll in Pune's Premier UI/UX Design Course
Elevate Your Design Skills: Enroll in Pune's Premier UI/UX Design Courseamirshaikhv21realtyp
 
A_B Testing Personalized Meditation Recommendations.pdf
A_B Testing Personalized Meditation Recommendations.pdfA_B Testing Personalized Meditation Recommendations.pdf
A_B Testing Personalized Meditation Recommendations.pdfVWO
 
2024 Google SERP Features: New Strategies To Gain Visibility
2024 Google SERP Features: New Strategies To Gain Visibility2024 Google SERP Features: New Strategies To Gain Visibility
2024 Google SERP Features: New Strategies To Gain VisibilitySearch Engine Journal
 
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptx
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptxFriends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptx
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptxGregory Edwards
 
Increase Your Website Sales & Leads Webinar
Increase Your Website Sales & Leads WebinarIncrease Your Website Sales & Leads Webinar
Increase Your Website Sales & Leads WebinarSEO Optimizers
 
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...Sophie Logan
 
Fashion-Marketing-1- Assaginment mid.pdf
Fashion-Marketing-1- Assaginment mid.pdfFashion-Marketing-1- Assaginment mid.pdf
Fashion-Marketing-1- Assaginment mid.pdfUttara University
 
Ice Cream Brand Harmony Study - TINT Emotional Profiling Research
Ice Cream Brand Harmony Study - TINT Emotional Profiling ResearchIce Cream Brand Harmony Study - TINT Emotional Profiling Research
Ice Cream Brand Harmony Study - TINT Emotional Profiling ResearchTINT Marketing
 
scope in Digital Marketing & advertising
scope in Digital Marketing & advertisingscope in Digital Marketing & advertising
scope in Digital Marketing & advertisingKBS SHOP
 
Ppt regarding of Digital Marketing cours
Ppt regarding of Digital Marketing coursPpt regarding of Digital Marketing cours
Ppt regarding of Digital Marketing courstegveersingh09
 
TAM AdEx-A Pixelated view into Digital Advertising Trends for Y 2023.pdf
TAM AdEx-A Pixelated view into Digital Advertising Trends for Y 2023.pdfTAM AdEx-A Pixelated view into Digital Advertising Trends for Y 2023.pdf
TAM AdEx-A Pixelated view into Digital Advertising Trends for Y 2023.pdfSocial Samosa
 

Recently uploaded (20)

Voltas turnaround strategy management case
Voltas turnaround strategy management caseVoltas turnaround strategy management case
Voltas turnaround strategy management case
 
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch Deck
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch DeckPodvertise.fm - Podcast Advertising Marketplace - Startup Pitch Deck
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch Deck
 
Advertising and public relations, Role and Impact
Advertising and public relations, Role and ImpactAdvertising and public relations, Role and Impact
Advertising and public relations, Role and Impact
 
Imposter Syndrome in Marketing & Why You're Not Alone
Imposter Syndrome in Marketing & Why You're Not AloneImposter Syndrome in Marketing & Why You're Not Alone
Imposter Syndrome in Marketing & Why You're Not Alone
 
Run more experiments with fewer resources
Run more experiments with fewer resourcesRun more experiments with fewer resources
Run more experiments with fewer resources
 
The 2024 Next Gen Attention Study - www.livewire.group
The 2024 Next Gen Attention Study - www.livewire.groupThe 2024 Next Gen Attention Study - www.livewire.group
The 2024 Next Gen Attention Study - www.livewire.group
 
A navigation of two creative processes Study
A navigation of two creative processes StudyA navigation of two creative processes Study
A navigation of two creative processes Study
 
Dhanuka Agritech Limited - Sales and Marketing Intern
Dhanuka Agritech Limited - Sales and Marketing InternDhanuka Agritech Limited - Sales and Marketing Intern
Dhanuka Agritech Limited - Sales and Marketing Intern
 
Harnessing Social Media for Marketing Growth
Harnessing Social Media for Marketing GrowthHarnessing Social Media for Marketing Growth
Harnessing Social Media for Marketing Growth
 
Elevate Your Design Skills: Enroll in Pune's Premier UI/UX Design Course
Elevate Your Design Skills: Enroll in Pune's Premier UI/UX Design CourseElevate Your Design Skills: Enroll in Pune's Premier UI/UX Design Course
Elevate Your Design Skills: Enroll in Pune's Premier UI/UX Design Course
 
A_B Testing Personalized Meditation Recommendations.pdf
A_B Testing Personalized Meditation Recommendations.pdfA_B Testing Personalized Meditation Recommendations.pdf
A_B Testing Personalized Meditation Recommendations.pdf
 
2024 Google SERP Features: New Strategies To Gain Visibility
2024 Google SERP Features: New Strategies To Gain Visibility2024 Google SERP Features: New Strategies To Gain Visibility
2024 Google SERP Features: New Strategies To Gain Visibility
 
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptx
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptxFriends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptx
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptx
 
Increase Your Website Sales & Leads Webinar
Increase Your Website Sales & Leads WebinarIncrease Your Website Sales & Leads Webinar
Increase Your Website Sales & Leads Webinar
 
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...
 
Fashion-Marketing-1- Assaginment mid.pdf
Fashion-Marketing-1- Assaginment mid.pdfFashion-Marketing-1- Assaginment mid.pdf
Fashion-Marketing-1- Assaginment mid.pdf
 
Ice Cream Brand Harmony Study - TINT Emotional Profiling Research
Ice Cream Brand Harmony Study - TINT Emotional Profiling ResearchIce Cream Brand Harmony Study - TINT Emotional Profiling Research
Ice Cream Brand Harmony Study - TINT Emotional Profiling Research
 
scope in Digital Marketing & advertising
scope in Digital Marketing & advertisingscope in Digital Marketing & advertising
scope in Digital Marketing & advertising
 
Ppt regarding of Digital Marketing cours
Ppt regarding of Digital Marketing coursPpt regarding of Digital Marketing cours
Ppt regarding of Digital Marketing cours
 
TAM AdEx-A Pixelated view into Digital Advertising Trends for Y 2023.pdf
TAM AdEx-A Pixelated view into Digital Advertising Trends for Y 2023.pdfTAM AdEx-A Pixelated view into Digital Advertising Trends for Y 2023.pdf
TAM AdEx-A Pixelated view into Digital Advertising Trends for Y 2023.pdf
 

MNCs Controlling the Dairy Industry Market in Kenya through M&A

  • 1. DATUM INTEL Premium Research and Consulting Solutions MNCs Controlling the Dairy Industry Market in Kenya through M&A FMCG Series: Dairy Products in Kenya August 2016
  • 2. Page 1 ©DatumIntelLtd Dairy Products in Kenya| August 2016| Datum Intel| Confidential Summary • The Kenyan market is developing steadily, with the economic growth creating a large middle class and with it, bigger opportunities for FMCG companies. • Local brands continue to dominate the market in 2016, and this has incentivized multinational companies (MNCs) to shift their entry strategies. • To successfully compete in the Kenyan market, MNCs are now adopting accelerated internationalization strategy through aggressive outward FDI, especially in the form of mergers and acquisition (M&A). • Through the recent M&A strategies in the Dairy industry in Kenya, MNCs have acquired and possessed tangible and intangible strategic assets of the established local brands. • This has enabled them to compensate for their competitive disadvantages for late entry into the market. M&A strategy is therefore an effective mechanisms to secure established brands, and gain quick access to advanced technology and control the African markets. • With recent acquisition of Ilara, Tuzo, Molo, Fresha, Buzeki and Delemere brands, the M&A between Danone and Brookside now positions the company as a market leader in the dairy industry. • Taking fresh milk category as an example, Brookside and other acquired brands places the company ahead of their competitors with a market share of 67% on the popular 500ml pack sizes between January and July 2016. Dairy Kenya
  • 3. Page 2 ©DatumIntelLtd Dairy Products in Kenya| August 2016| Datum Intel| Confidential Fresh Milk Dominated the Dairy Products Category in 2016 with an Average Value Share of 52% between January and July 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 8.0% 8.0% 8.0% 7.0% 8.0% 8.0% 8.0% 9.0% 9.0% 9.0% 8.0% 8.0% 8.0% 7.0% 8.0% 22.0% 22.0% 24.0% 23.0% 21.0% 20.0% 20.0% 22.0% 50.0% 50.0% 49.0% 51.0% 52.0% 54.0% 54.0% 52.0% 0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0% 2.0%2.0%2.0%2.0%2.0%2.0%2.0%2.0% 2.0%2.0%2.0%2.0%2.0%2.0%2.0%3.0% 8.0% 100% Cheese Fresh Milk Sour Milk Condensed Milk Butter Average Powder Milk Dairy Creams July Yoghurt May JuneFebruaryJanuary AprilMarch Consumption of Fresh Milk Increased between April and July while Yoghurt Consumption Declined Notes: Data covers all dairy product categories in the tier 1, 2 and 3 of the Kenyan retail segments. The analysis excludes information on the general trade Source: Datum Intel Consumer Survey (n=152), Datum Intel Analysis Strong tea culture spurred the growth in consumption of fresh milk. The upward trajectory is reflected in the months of April to July, which are the coldest months of the year in Kenya Dairy Kenya
  • 4. Page 3 ©DatumIntelLtd Dairy Products in Kenya| August 2016| Datum Intel| Confidential 500ml Fresh Milk Pack Size is the Most Consumed SKU in Kenya at 74%, with Brookside as the Leading Brand with 28% market Share in 2016 9.0% 9.0% 10.0% 9.0% 9.0% 9.0% 7.0% 9.0% 9.0% 11.0% 10.0% 11.0% 10.0% 9.0% 11.0% 10.0% 13.0% 11.0% 11.0% 12.0% 12.0% 12.0% 13.0% 12.0% 14.0% 13.0% 13.0% 12.0% 12.0% 12.0% 14.0% 13.0% 22.0% 21.0% 22.0% 21.0% 21.0% 21.0% 23.0% 22.0% 28.0% 27.0% 27.0% 28.0% 28.0% 28.0% 28.0% 28.0% 1.0%1.0%1.0%1.0%1.0%1.0%1.0%1.0% 1.0%1.0%1.0%1.0%1.0%1.0%1.0%1.0% 2.0%2.0%2.0%2.0%2.0%2.0%2.0%2.0% 2.0%3.0% 4.0% DELAMERE OTHERS KCC BROOKSIDE ILARA FRESHA TUZO DAIMA MOLO June 100% 5.0% May 4.0% April AverageJanuary 4.0% March 5.0% February 4.0% July PREMIER Brookside Controls 67% of the Fresh Milk Category on the Dairy Industry after Successful M&A Note: Data covers only fresh milk products, taking only 500ml pack sizes. The analysis excludes all other dairy products categories Source: Datum Intel Consumer Survey (n=152), Datum Intel Analysis Dairy Kenya
  • 5. Page 4 ©DatumIntelLtd Dairy Products in Kenya| August 2016| Datum Intel| Confidential 500ml and 500g (Daima) Yoghurt Pack Size is the Most Consumed in Kenya at 37%, with Daima as the Leading Brand at 26% share in 2016 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 7.0% 7.0% 7.0% 7.0% 7.0% 6.0% 7.0% 7.0% 8.0% 7.0% 8.0% 8.0% 8.0% 8.0% 16.0% 15.0% 17.0% 15.0% 14.0% 17.0% 16.0% 18.0% 18.0% 19.0% 20.0% 20.0% 19.0% 19.0% 26.0% 26.0% 25.0% 25.0% 26.0% 26.0% 26.0% 6.0%6.0%6.0%6.0%6.0% 5.0%5.0%5.0%5.0%5.0%5.0%5.0% 5.0%5.0%5.0%5.0%5.0% 6.0%6.0% ILARA LYONS 100% FRESHA OTHERS FebruaryJanuary June 5.0% May 5.0% TUZO KCC DELAMERE BROOKSIDE DAIMA AverageAprilMarch Note: Data covers only yoghurts category, taking only 500ml pack sizes and 500g for Daima brand. The analysis excludes all other dairy products categories Source: Datum Intel Consumer Survey (n=152), Datum Intel Analysis Daima boasts as a brand leader with a huge margin of 6% above the immediate competitor Brookside Dairy Kenya
  • 6. Page 5 ©DatumIntelLtd Dairy Products in Kenya| August 2016| Datum Intel| Confidential Additional Information • For the FMCG companies in the Dairy Industry in Kenya, these trends are of great value not only to better understand the market, but also to unearth sources of future market growth for the industry. Should you wish to obtain additional information, you will also find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections. Our research will save you time and money while empowering you to make informed, profitable decisions. • To find out more about the study and what companies and brands can do to win in the Kenyan market, please contact us at consult@datum-intel.com or visit www.datum-intel.com. We are more than happy to share with you our insights. • You can also speak to us on +254 727 203 444 or +254 722 924 782 and request for more information, or request for the presentation of our findings or comments on the same. Thank you! Dairy Kenya
  • 7. Page 6 ©DatumIntelLtd Dairy Products in Kenya| August 2016| Datum Intel| Confidential Copyright and disclaimer © 2016 Datum Intel Ltd. All rights reserved. All information, analysis, forecasts and data provided by Datum Intel Ltd is for the exclusive use of subscribing persons or organizations (including those using the service on a trial basis). All such content is copyrighted in the name of Datum Intel, and as such no part of this content may be reproduced, repackaged, copied or redistributed without the express consent of Datum Intel Ltd. All content, including forecasts, analysis and opinion, has been based on information and sources believed to be accurate and reliable at the time of publishing. However, in view of the natural scope for human and/or mechanical error, either at source or during production, Datum Intel accepts no liability whatsoever for any loss or damage resulting from errors, inaccuracies or omissions affecting any part of the publication. All information is provided without warranty, and Datum Intel makes no representation of warranty of any kind as to the accuracy or completeness of any information hereto contained.