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19 November, 2014 09:26 AM Source: Financial Times - Sri Lanka
expolanka PLC.jpg

Aberdeen Holdings yesterday announced it has acquired eight companies from Expolanka Holdings Plc – Expolanka Teas Ltd., Expolanka Plantation Ltd., World Spice and Teas Ltd., Castle Commercial Ltd., Neptune Holdings Ltd., Expolanka Pharmaceutical Ltd., Bio Extracts Ltd. and Saffron Foods Ltd.
The acquisition was a part of Aberdeen’s inorganic growth drive and the acquisition cost of the eight companies plus a property amounts to Rs. 1.16 billion.
“We see a strong business case and value proposition for the companies we have just acquired. We have a robust strategy and management expertise to ensure these companies deliver strong performance and superior shareholder value,” said Aberdeen Holdings Chief Executive Officer Omar Kayaam.
“This is an important opportunity for us to grow in the tea, herbal pharmaceuticals and food sectors. Expolanka Teas is a leading exporter of teas and has a strong international market presence. It has a strong track record and we are confident we will be able to have the company reach and exceed its level of potential in a relatively short period of time.
“Bio Extracts, the producers of the Baraka brand of herbal pharmaceuticals and food supplements, has secured global and local market recognition and with the increasing levels of health consciousness we see tremendous opportunities to rapidly grow this business. The investment in Saffron Foods will generate good synergies when working together with our existing business of Lanka Premier Food, the operators of the brand Paan Paan. Our investments are a result of a detailed due diligence process and an in-depth understanding of the respective business models.”

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