Akbar Brothers invests Rs100mn in Sri Lanka’s Colombo Coffee Company
ECONOMYNEXT – Sri Lanka’s Colombo Coffee Company, a café operator and provider of branded coffee for restaurants and hotels said it had received a 100 million rupee equity investment from Akbar Brothers, a top tea exporter.
The company says the new capital would be used to expand the its Barista and Caramel Pumpkin cafés.
“Being the largest tea exporter in Sri Lanka, it made sense for us to partner with CCC to better serve customers with tea and coffee solutions,” Imran Akbarally, Director, Akbar Brothers said.
“We are very excited about this new partnership and having Ironwood Capital Partners and Crossbrand Investments as our co-investors in this journey.”
Colombo Coffee Company franchises international and its own brands of coffee and beverage making machinery to the hotel, restaurant and café (HORECA) market.
Its brands include Lavazza, Toscana, La Cimbali and Gaggia.
“Thanks to a combined effort from the group, we are enjoying our strongest position yet within the HORECA and café segment in Sri Lanka,” Colombo Coffee Company Chairman Hiran Embuldeniya said.
“Having Akbar Brothers on this journey allows us to expedite growth, and drive initiatives such as bringing back Sri Lankan coffee to the global map.”
The eight year old firm says it now the largest supplier of coffee solutions to the hotels and restaurants in Sri Lanka. (Colombo/Dec20/2019)