Thursday Jan 22, 2026
Thursday Jan 22, 2026
Thursday, 22 January 2026 05:46 - - {{hitsCtrl.values.hits}}
From left: Hansamali Abeyratne, JAPC Director and CEO Chathura Abeyratne, Pushpakanthi Abeyratne, JAPC Managing Director Vernon Abeyratne, Sunshine Holdings Director G. Sathasivam, Chairman Amal Cabraal, Deputy Chairman Vish Govindasamy, Director and Group CEO Shyam Sathasivam, and Director and Group CFO Aruna Deepthikumara
Sunshine Holdings PLC (SUN) has announced its intention to acquire a 75% stake in Joint Agri Products Ceylon Ltd., (JAPC), a leading export-oriented company, subject to the conditions in the Share Purchase Agreement (SPA) signed yesterday.
The signing of the SPA marks a strategic milestone in SUN’s long-term growth journey.
JAPC is a company incorporated in Sri Lanka with expertise in processing and exporting of spices, coconut products, and teas, mainly to the EU and US. JAPC has a wholly owned subsidiary, Sancan Exports Lanka Ltd. The 75% stake amounts to 577,320 shares and the acquisition will cost Rs. 2.698 billion.
In a statement, SUN said the acquisition aligns with its strategy to expand its global footprint and grow its Consumer sector, while further diversifying its business portfolio. By entering the premium export segment, SUN aims to strengthen its presence in high-value international markets and build resilient, future-ready revenue streams.
SUN Group CEO Shyam Sathasivam said: “This investment is a deliberate step in expanding SUN’s global footprint through businesses that demonstrate resilience, scalability, and strong market relevance. JAPC has built a credible export platform in premium organic categories, supported by strong international relationships and operational rigour. We believe this partnership will enable the business to accelerate its growth while reinforcing our commitment to building export-led enterprises that create long-term value for Sri Lanka.”
The company to be acquired operates in the processing and export of organic spices and other agri products, catering to high-end global market segments. Its operations span two distinct business arms: General Exports, focused on business-to-business (B2B) sales to international clients, and direct-to-consumer retail sales (B2C), which is in its infancy.
SUN’s management will work closely with the existing management team to ensure a smooth transition. Business operations will continue uninterrupted, while SUN will contribute its expertise in governance, operational excellence, and strategic growth to further strengthen and scale the business.
