For re-branding, expansion:

Renuka Shaw Wallace invests Rs 1.8 billion

Indunil Hewage

Renuka Shaw Wallace formally known as Coco Lanka PLC is to invest Rs1.8 billion running up to 2015 for future capital and brand expansion requirements as part of its re-branding and the aggressive expansion of the business.

Renuka Shaw Wallace, Shared Services COO Palitha Gunathilake, Executive Director Vasantha Kumara ,CEO/Executive Director Shamindra Rajiyah and Executive Director Lasantha Abeywickrama. Picture by-Saliya Rupasinghe

Sri Lanka’s premier home grown food conglomerate ‘Renuka ShawWallace’ is expected to derive Rs 5 billion turnover year on year following the completion of the company’s ongoing acquisition process and over Rs 1.3 billion incremental revenue by 2015.

Highlighting the future growth plans of the company, Renuka Shaw Wallace CEO and Executive Director Shamindra Rajiyah said the company has strong brands in each product segment which the company operates in.

The company plans to achieve its future growth aspirations by acquiring selected companies in coming months. Today, Renuka owns all of its key brands and will further invest in building brands equity. With this, company will function to seize emerging growth opportunities in the fast growing Food and Beverage sector in Sri Lanka.

Renuka Shaw Wallace is also planning to set up a fish processing facility with an investment of Rs 200 million to bring convenience to the local consumer under its already established Captain and Plaza brands.

Rajiyah also hailed the ‘2013 Budget’ mentioning that the government has provided massive incentives for the development of commercial agriculture, food and beverage, dairy and fishery sectors. According to Rajiyah, Renuka Shaw Wallace intends to be the most innovative company in all the segments which they operate in Sri Lanka.

“Our new name better reflects the complete spectrum of businesses we are in and the opportunities we are unleashing.

Renuka Shaw Wallace brings together a portfolio of food and beverage companies which are respective leaders in their segments. It draws on the heritage of trust built by the brands from generation to generation in Sri Lanka.

What we hope to achieve is to consolidate direction, unlock synergies by controlling the value chain from raw material to shelf, and, in turn, achieve our mission to - Make Every Day Delicious - for our consumers locally as well as globally,”said Rajiyah.

Renuka Shaw Wallace’s businesses consist of fast moving consumer goods (FMCG), food service, dairy and agri-exports. These operate under Renuka Consumer Foods Ltd, Shaw Wallace Ceylon Ltd,

Shaw Wallace Food Services Ltd, Renuka Products (Pvt) Ltd, Renuka Agri Foods PLC, Renuka Organics (Pvt) Ltd, Renuka Teas Ceylon (Pvt) Ltd and Kandy Plantations Ltd.

Rajiyah added that Renuka Shaw Wallace operates five factories, nine processing centres, two plantations with an out-grower network exceeding 5,000 farmer families, a state-of-the-art warehouse and a logistics centre.

It exports to 61 countries, and locally distributes to 65,000 grocery outlets island-wide as well as to hotel,restaurants, catering establishments among others. The company directly employs 1,240 people. Rajiyah said that Renuka Shaw Wallace’s aggressive expansion in the food and beverage space is to seize the growth opportunities the country offers.

Our future plans include the extension of existing brands to new food and beverage products by manufacturing in response to evolving consumer needs. These include the processing of value-added fish, innovative dairy products while increasing our general trade outlet coverage up to 100,000 by 2015 and efficiency through the sales force automation system currently under implementation.