Colombo, Sri Lanka, June 15, 2021—Consumers in Sri Lanka are set to benefit from a new $5 million investment by IFC to Sunshine Consumer Lanka Ltd, a subsidiary of Sunshine Holdings PLC (Group), with a greater number of food products on offer and moves to adopt international food safety standards.
The move marks IFC's first local currency investment in Sri Lanka's consumer goods sector and will allow Sunshine Consumer Lanka Ltd to diversify its fast-moving consumer goods (FMCG) portfolio by expanding its operations from branded tea to confectionary, including healthy snacks.
This new investment, amid the economic disruptions caused by the pandemic, will support the domestic confectionary supply chain and help strengthen the overall competitiveness of the country's FMCG sector.
"IFC's partnership will allow us grow further through diversification of our businesses and acquisition of a company to expand our presence in the retail sector," said Vish Govindasamy, Group Managing Director of Sunshine Holdings PLC. "We also plan to use this opportunity to improve product quality for consumers of confectionary, while increasing revenues and overall efficiencies for the Group's distributors."
Registration with the Sri Lanka FINANCIAL CHRONICLE would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..
All information contained in this forum is subject to Disclaimer Notice published.