Caravan back

Ramani KANGARAARACHCHI

Dubai based Switz Group has acquired the Caravan pastry shop chain in Sri Lanka.

It was re-launched as a BOI project under the name 'Caravan Fresh' with an investment of US$1.25 million.

Switz Group Managing Director Taizoon F Khoarakiwala said the take-over includes eight outlets of the chain and the bakery in Hendala.

The investment includes a complete renovation of outlets and the bakery.

The company has employed over 90 employees who worked with the previous management.

They expect to increase the number up to 150 with the expansion of outlets in the future.

Another two outlets will be added by 2011 and it will go up to 20 thereafter within the range of 100km from Colombo.

BOI Director A.M. Kulasekara said the BOI encourages even small investors.

"The Caravan Fresh project has given a new outlook with a multi-cultural environment which will maintain a good relationship with the people," he said.