Ceylon Tea Brokers to exit logistics ops in Rs. 635 m deal

Monday, 3 November 2025 05:40 - - {{hitsCtrl.values.hits}}

Signs Share Sale and Purchase Agreement to divest 100% of Logicare to DP Logistics

Ceylon Tea Brokers PLC has entered into a Share Sale and Purchase Agreement with DP Logistics Ltd., a member of the David Pieris Group of Companies, for the sale of its entire stake in Logicare Ltd., worth over Rs. 635 million.

The deal, signed on 30 October, involves the transfer of 100% of the issued shares in Logicare for

Rs. 635.3 million, based on an enterprise value of Rs. 1.3 billion.

The transaction marks Ceylon Tea Brokers’ full exit from the logistics subsidiary, which was established to provide integrated logistics and warehousing services. The divestment aligns with the company’s strategic decision to focus on its core tea broking and related services business.

DP Logistics, part of the diversified David Pieris Group, is among the country’s largest logistics service providers with operations spanning freight forwarding, warehousing, and supply chain management.