Business
Another successful transaction among family businesses
Consolidating its stance as a Sri Lankan family business expert, Capital Alliance Partners Limited (CAL) advised Sunshine Holdings PLC on the acquisition of Daintee Limited. The transaction was structured by CAL to enable the Sunshine Group to expand its operations in the FMCG space with the use of Daintee’s well established brands, thereby maximizing the growth prospects of both entities.
Functioning as the Buy-side Advisors to the Sunshine Group, CAL was entrusted the role of harnessing the value of the Daintee brand that has been created over the years and plugging it into the Sunshine Group such that they can expand their presence as a leading FMCG conglomerate in Sri Lanka.
Having negotiated through a number of prospective investors, CAL played an instrumental role in the implementation of the transaction by liaising with all related parties and engaging in negotiations with Daintee, on behalf of Sunshine, securing the most beneficial terms of the transaction.
Having been a family run business over the past 35 years, Daintee has become a household name as one of the largest players in the confectionary space in Sri Lanka with an island-wide footprint and over 95,000 touchpoints.
Sunshine Holdings is one of Sri Lanka’s most respected conglomerates, with a core focus in Healthcare, Agribusiness, Consumer Goods & Renewable Energy. The group has a 50 year heritage that started as a prestigious family owned business, growing to become one of the most respected conglomerates Listed on the Colombo Stock Exchange bearing a name synonymous with quality.
Commenting on the acquisition, the Group Managing Director Vish Govindasamy said; “I believe this transaction positions the Sunshine Group on the path to becoming the leading FMCG conglomerate in Sri Lanka and is a strong statement about our vision to grow.”
CAL’s VP of investment banking Rizny Faisal went on to say “The transaction is a boost for the country’s capital markets in a post COVID landscape and has been a testament to CAL’s unwavering commitment to its’ clients, whilst solidifying CAL’s stance as Sri Lanka’s family business expert in investment banking.”
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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