Kotagala Plantations acquires Union Commodities for Rs. 1.57 bn
Kotagala Plantations has bought Union Commodities Private Limited, a
tea exporter for a sum of Rs. 1.575 billion.
Accordingly, the plantation firm has acquired 100 % of the issued
capital of the Union Commodities. A stock market disclosure issued by
Kotagala Plantation described, Union Commodities as the 4th largest tea
exporters from Sri Lanka.
“The company enjoys a state of the art self-sufficient factory with
an in-house advance tea bagging facility, on-site purpose built storage
facility, packaging facilities and a shipping and a freight forwarding
company fully owned by the group located in Kelaniya,” the disclosure
said. It added, Founder Chairman of Union Commodities Chanaka De Silva
will continue to function as the Chairman of the firm. Apart from
exporting teas, the commodity firm is also engaged in dealing with other
commodities and food items such as sesame, cloves and pepper.
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