Sri Lanka’s Nawaloka Holdings enters the FMCG sector

Nov 30,2015 (LBO) – Nawaloka Holdings, a diversified conglomerate in Sri Lanka, entered the FMCG sector through its recent acquisition of East West Marketing (EWM), the company said in a statement. “Nawaloka has always been associated with quality. We have proven this over and over again in the past 70 years. And with the recent acquisition of EWM we continue in this great tradition of supplying quality products to the market at affordable prices,” Jayantha Dharmadasa, chairman of Nawaloka Holdings said. EWM is a leading distribution company which has been able to leverage its long standing relationships with local and foreign partners to introduce and distribute some of the world’s leading FMCG brands across the island. The company owns leading brands Turkey, Bega, Aparna, Sunrise and Super chef. The EWM product portfolio also includes edible oils such as Vegetable oil, Sunflower oil, Corn oil, and other FMCG products such as Basmati Rice, Canned fish, Cheese, Soya meat, Dimbula Tea and a range of sauces. The company also plans to re-launch Milgro Milk Powder to the market. The statement said that the bakery division covers all small, medium and large bakers island wide and is the exclusive representative in Sri Lanka for Saf Yeast - France, one of the world's largest manufacturers of yeast. “However, the backbone of the company is its strong dealer network, state-of-the-art warehouse, and brand new vehicle fleet which have ensured efficient distribution of their products island wide.” the statement said. Nawaloka Holdings has interests in healthcare, construction, manufacturing, trading, lubricants, education, real estate, finance and aviation. It has more than 20 companies including three listed companies. “The financial strength, resources and the wealth of experience of Nawaloka Holdings will be an advantage for EWM in its mission to become the most prominent FMCG brand in Sri Lanka.”