David Pieris Logistics acquires Logicare in Rs. 1.3 b deal from Ceylon Tea Brokers

Tuesday, 18 November 2025 00:00 - - {{hitsCtrl.values.hits}}

From left: Capital Alliance Partners CEO Nishok Goonasekera, DPL Executive Director Indika De Silva, Non-Executive Director Manjula De Alwis, David Pieris Motor Company Director Dhanika de Silva, Ceylon Tea Brokers Director Chrishantha Perera, Chairman Niraj De Mel, David Pieris Group Chairman and Managing Director Rohana Dissanayake, Ceylon Tea Brokers Managing Director Waruna De Silva, DPL Managing Director and CEO Kalum Katipearachchi, David Pieris Holdings Director Ashan Nissanka, and DPL Non-Executive Director Mavali Weerasinghe

D.P. Logistics Ltd. (DPL), a member of the David Pieris Group of Companies, has entered into a Share Sale and Purchase Agreement for the acquisition of Logicare Ltd. from Ceylon Tea Brokers PLC for an enterprise value of Rs. 1.3 billion. The transaction includes a payment of Rs. 635.3 million to Ceylon Tea Brokers PLC as purchase consideration and taking over bank and other related party borrowings, making up the balance investment.

The Share Sale and Purchase Agreement, executed on 30 October, covers the acquisition of 100% of the issued shares in Logicare Ltd., with completion to take place upon the fulfilment of specified conditions.

DPL currently ranks among the top ten companies in warehousing and 3PL operations and holds one of the largest container fleets amongst the logistics companies in the country. Despite operating in a highly fragmented freight forwarding market, DPL continues to capture a growing share, reinforcing its reputation as one of the very few local companies with expertise across all logistics disciplines.

David Pieris Group also acquired in 2022, Pulsar Shipping Agencies Ltd., the shipping arm of Expolanka Holdings PLC to expand its Logistics & Shipping Cluster into ship agency, husbandry services and marine logistics.

This acquisition strengthens DPL’s position as one of Sri Lanka’s leading end to end logistics and supply chain service providers, with operations spanning container, distribution and project logistics related transportation, freight forwarding, custom clearance, 3rd Party Logistics / Warehousing and supply chain management. By integrating with Logicare’s modern logistics and warehousing capabilities, D.P. Logistics aims to further enhance its service portfolio, expanding its capacity in line with the country’s growing demand for integrated logistics solutions.

Logicare, established by Ceylon Tea Brokers in 2017, has been providing state-of-the-art warehousing and logistics services. The sale marks Ceylon Tea Brokers’ complete divestment from its logistics subsidiary as part of its strategy to focus on core tea broking and related services.

This strategic acquisition underscores the David Pieris Group’s commitment to strengthening its presence in high-growth sectors and leveraging synergies across its diversified business portfolio.

With over four decades of business excellence, David Pieris Group stands as one of Sri Lanka’s largest, most diversified and financially stable conglomerates, comprising 30+ companies across sectors such as automotive, financial services, logistics, shipping and marine Services, racing and leisure, real estate and renewable energy.