The merger is a consolidated move by both companies to enter new markets. BabyBliss will be adding its experience in deep retail and e-commerce in Nigeria while MumsVillage brings its knowledge of building online communities and creating content for pregnant women and mothers.
Speaking on the development, the Group CEO, Isis Nyong’o Madison, expressed delight on the successful merger. She added that the new group will be dedicated to meeting the changing needs of women in Africa.
“I’m excited to lead this new entity into meeting the changing needs of African women and showing that they are indeed a market that cannot be ignored,” said Isis.
Bliss Group will leverage on our networks, learnings and reach to convert the financial opportunity that exists into reality by delivering not just greater shareholder value for our investors but looking to build a real powerhouse with women at the helm.”
“The BabyBliss vision has always been Pan-African, this opportunity sets us on a course to actualising that with increased momentum,” said Jika Nwobi, BabyBliss Nigeria CEO.
With the merger, both companies will combine their operations in Kenya and Nigeria to increase the range and quality of baby products and service and establish a larger distribution network to service the over 300,000 women in both markets. They will also form a strategic brand presence with enhanced scale and efficiency.
By combining to become Bliss group, the over US$5 million mothers and baby market in Nigeria and US$2 billion in Kenya is now open to the firm. The Bliss Group Company will be co-headquartered in Kenya and Nigeria.
Like the Bliss Group merger which aims to expand into new markets, mergers can be done for several reasons. Some include saving on production costs, increase in capital, improving products, acquiring new technical knowledge and resources.
Other benefits include the generation of cost synergies (administration) and improved geographical or demographic coverage.
The Bliss Group Company will be co-headquartered in Kenya and Nigeria. Understanding the need to preserve both BabyBliss Nigeria and MumsVillage Kenya’s heritage in their respective home countries, the new company is committed to supporting the local community and continuing the relationships created in the communities in which they operate.