Sri Lanka’s Brown and Co. acquires Isin Lanka for Rs. 1.5 billion
The Morning: Brown and Company PLC has announced the acquisition of 100% shareholding in Isin Lanka (Private) Limited, solidifying a major investment aimed at enhancing its operational capabilities.
The transaction, valued at Rs. 1.495 billion, was completed on 24 September according to a corporate disclosure made under Section 8 of the Listing Rules.
Isin Lanka (Private) Limited, now fully integrated into the Browns Group, will play a critical role in streamlining the group’s warehouse operations.
The acquisition is expected to significantly boost operational efficiency for Brown and Company and its subsidiaries, with a key focus on expanding their manufacturing and warehousing capacities.
OSL take:
Sri Lanka’s economy has shown great resilience through the years to external and internal challenges and this resilience was witnessed once again following the economic crisis experienced by the country in the past two years. The overall economic resilience was also witnessed in the resilience shown by the country’s private sector. Many businesses in the private sector managed to record growth and profits even amidst the crisis situation. Local businesses are also engaged in expanding operations locally and internationally. All these are indicative of the strength of Sri Lanka’s private sector and the acquisitions being recorded by some large Sri Lankan businesses in the country is indicative of the growing business/investment opportunities in the country. Given the expanding business/investment opportunities in Sri Lanka, foreign businesses/investors could confidently explore them while also looking at forming collaborations with local businesses with the aim of further expanding operations locally and internationally.