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Wednesday, 25 January 2012

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Renuka Agri in deal with Richlife

Renuka Agri Foods PLC, a subsidiary of Renuka Holdings PLC has purchased 76 percent of the issued share capital of Richlife Dairies Limited for Rs 505 million (Rs 505,000,000). Renuka Agri Foods PLC has, in terms of agreement reached, assumed management control of Richlife Dairies from January 13 under this deal. Richlife Dairies Limited engages in the selling various milk products under the brand name of Richlife and range of fruit products under the cheers brand.

The portfolio consist of liquid plain and flavoured milk in terra pack, pasteurized milk in bottle, yoghurt, curd, ghee, ice cream. In food products are company manufactures ready to drink mango, wood apple, mixed food juices among others. Renuka Agri Foods PLC is listed under the Food & Beverage sector of the Colombo Stock Exchange and manufactures and markets a range of premium coconut products in conventional and organic forms.

 

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