Expolanka Holdings buys controlling stake in Norfolk Foods for Rs. 300 m
Expolanka Holdings yesterday announced its acquisition of a controlling stake in Norfolk Foods Pvt. Ltd. for an investment of Rs. 300 million.
Norfolk Foods enjoys an enviable reputation as a leading entity involved in the manufacturing and marketing a range of specialised processed foods
“We saw tremendous potential in this company. Not only does it have a wide portfolio of products but in parallel enjoys a strong and vibrant customer base both in retail and B2B. With our existing FMCG brands which include T-Sips, Mo-Fruit, Taprobana and Baraka, Norfolk will no doubt further strengthen the current portfolio. It is seen that the Halal meat industry has been growing rapidly in Sri Lanka and across the world, which shows growth potential for NFL. In line with this we have plans to further develop the brand name across all markets and increase market share in the near future,” said Expolanka Holdings PLC Group CEO Hanif Yusoof
A wide range of speciality products made according to high standards of quality have made NFPL the choice supplier to most of the prominent brands in the country. NFPL’s clientele extends from the quality conscious luxury and boutique hotels to globally-branded five star city hotels. Global fast food franchises go for NFPL while leading supermarkets which have their own brands of further processed meats, offer shelf space to NFPL products.
Furthermore NFPL’s product range is perceived to be distinctive and is driven by its culture of innovation and excellence. The company has developed and marketed an assortment of further processed foods ranging from kieves and cordon bleu to cocktail nibbles and smoked delicacies.
It also produces and markets popular crumbed specialities, savouries and crispy grills. Coupled with a nationwide distribution network, a unique brand proposition is expected to augment the company’s proficiency at new product launches.
Envisaging a significant increase in demand NFL recently completed a modernisation programme which included new blast freezers, cold rooms and expanded floor area of 32,000 square feet. With this the NFL will have an integrated production process and is expected to be a model production facility in Sri Lanka with uninterrupted process flow. NFL also boasts of being the first to install a spiral air blast freezing facility in Sri Lanka.
Expolanka Holdings PLC – the Holding Company of the Expolanka Group – commenced operations in 1978. The company is listed in the Main Board of the Colombo Stock Exchange as a diversified conglomerate.
With diversified interests in transportation, international trading, manufacturing and strategic investments sectors, the Group, which has a global presence in over 12 countries and 38 cities, has 46 subsidiaries and joint venture companies.
Expolanka Holdings PLC posted a net profit of Rs. 1.3 billion in the year ended 31 March 2011. Additional information about Expolanka Holdings PLC is available at www.expolanka.com.
