Thursday, 5 February 2015 00:00
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Lankem Ceylon Plc has acquired 72.5% of J.F. Packaging Ltd., for Rs. 600 million.
The stake amounts to 488,034 shares and the strike price is approximately Rs. 1,300 per share.
J.F. Packaging is engaged in business of manufacturing, supplying, designing, laminating and printing a wide range of packaging solutions.
Founded in 1987, the company began as a family business established in a small town near Kandy by Joseph De Fonseka (current Chairman is Lakshman De Fonseka) with the initial aim of creating jobs for the residents of the area.
JF Packaging is the first company in a non-food processing industry to comply with Food Safety Standard Requirements laid down in standards such as HACCP as well as ISO 22000:2005 certification. Its top clients include global giants Unilever and Nestle.
Last year JF Packaging was honoured with two awards for packaging excellence at the Lanka Star Awards. One Gold was for the ‘Stand-up Pouch with Spout’ for Unilever’s Vim Dishwash liquid that is a replacement of a costly plastic bottle as an economic substitute. This is the same product that won the award for the most ‘Innovative support in Packaging’ by Unilever Sri Lanka at their Supplier awards night.
The second Gold Star was presented for ‘Bistro Tea, Coffee and Energy Drink Sticks’. It is an innovative patented pack originated with Sri Lankan tea and coffee in the form of a triple laminated micro perforated ‘Stick’. The stick packed with tea or coffee to be immersed in hot water to make a cup of tea or coffee.
Lankem Ceylon PLC is a fast growing player in the diversified conglomerate sector with interests in agriculture, plantations, consumer, food and feed ingredients, industrial chemicals, industrial flooring, road surfacing, paints, pest control and hotels. Its investments span over 25 subsidiaries. The company has expanded its presence in South East Asia with its investment in rubber production in Cambodia.
