Sri Lanka Renuka Agri Foods invests in organic unit
EconomyNext – Renuka Agri Foods, a Sri Lankan manufacturer of coconut-based food and beverage products, said it has invested 609 million rupees in a subsidiary making organic food products.
A stock exchange filing said Renuka Agri Foods bought 4,350,000 ordinary shares of its fully owned subsidiary, Renuka Organics (Pvt) Ltd., at 140 rupees a share on 27 February 2015.
"Renuka Organics is engaged in manufacturing and marketing certified organic agriculture products," the statement said.
"Its subsidiary is engaged in plantations. The company will invest in plantations and other vertical integration projects to improve the supply chain."