With court room and board room battles firmly behind, the diversified Richard Pieris Group made it to the news this week to pick up two plantation companies. The acquisition is the latest, after picking up Sathosa and getting a tentative foot into financial sector through Pramuka Bank.
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Its been a while since the once family controlled Richard Pieris Group grabbed the headlines.
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rnAfter most of the Pieris family ceded ownership to UK born Sri Lankan Dr. Sena Yaddahige, the diversified giant is now taking big steps to cut its teeth into the leisure, real estate and transport sectors, with plans to also aggressively expand its retail reach.
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rnThe Group, owners of the lquote Arpico brand, are also taking a serious look at setting up a latex foam plant in Vietnam to feed its booming export market.rn
rnVietnam, the Group says, has an abundance of latex crepe, cheap-flexible labour and shorter lead times to key export markets like the US.rn
rnThough Sri Lanka has access to natural latex, m