Sri Lanka’s JAT Holdings PLC acquires Mirotone Limited
The Morning: JAT Holdings PLC recently announced the acquisition of Mirotone (NZ) Limited, the market leader in industrial wood coatings across New Zealand and a globally respected coatings brand established in 1935.
With Mirotone’s nine-decade heritage of innovation, technical mastery, and international credibility, JAT now inherits a company and brand that has supplied advanced wood finishing solutions to premium furniture manufacturers, cabinet makers, and industrial partners worldwide.
JAT Holdings PLC Founder and Managing Director Aelian Gunawardene described the milestone as a defining chapter in JAT’s global journey: “The acquisition of Mirotone gives JAT not only a powerful brand but also a passport to the world, with immediate reach across Australia and future access to markets in Europe and the Americas. Over the past 30 years I have admired the Mirotone brand for its craftsmanship, enduring consistency, and the trust it has earned from generations of professionals around the world.
“For me, Mirotone has always represented authenticity, precision, and uncompromising quality – qualities that deeply resonate with JAT’s own philosophy. To now have the privilege of being the custodian of this remarkable legacy is both humbling and inspiring. This milestone marks a defining moment in JAT’s journey, the transformation from a regional leader into a truly global coatings company.”
JAT Holdings PLC Chief Executive Officer Nishal Ferdinando said: “This acquisition is a defining milestone for JAT. By integrating Mirotone’s global experience, advanced technology, and established brand equity, we are propelling ourselves into new international markets with sustainable, high-performance coating solutions.
“Mirotone’s presence in New Zealand and legacy in Australia form a strong launchpad, enabling JAT to compete at a global level and introduce our innovations to mature and emerging markets alike. Our goal is clear: to position JAT as a Sri Lankan multinational with a global manufacturing, innovation, and distribution footprint.”
With operations already spanning South Asia and Africa, JAT’s entry into Australasia cements its emergence as a borderless coatings enterprise.
OSL take:
The strength and growth of Sri Lanka’s private sector is a clear indication of the overall resilience and growth of the country’s economy that has faced multiple external and internal challenges through the years. With Sri Lanka on the path to becoming a hub in the South Asian region supported by the country’s strategic positioning in the Indian Ocean, the many trade agreements as well as trade concessions enjoyed with many foreign countries and the improving ease of doing business environment, the country is fast emerging as a business destination in the region. All these have resulted in the expansion of business/investment opportunities in the key economic sectors in the country while the private sector also presenting a host of business ventures open for collaboration with foreign businesses/investors. The growth and profits recorded by businesses already operating in Sri Lanka further indicates the increasing business potential in the country. Given all these developments, foreign businesses/investors could confidently explore the expanding business/investment opportunities in Sri Lanka.
| Article Code : | VBS/AT/20251112/Z_1 |