Wednesday, November 24, 2010
Sri Lanka Cargills buy biscuit maker
The firm Diana Biscuits manufactures (Pvt) Ltd, was bought through Cargills Quality Foods, a unit of the parent.
"Sri Lanka is among the highest per capita consumers of biscuits in the South Asian region," Cargills said in a statement.
"Cargills therefore sees great potential for expansion and innovation in the biscuit category.
"The Group also identifies branded consumer goods to be a thrust in its future expansion and diversification.
"The acquisition of Diana Biscuits manufactures (Pvt) Ltd comes in the wake of these identified opportunities and potential for sustainable growth."
source - www.lbo.lk