Sri Lanka’s Lankem Ceylon buys pet bottle maker Kiffs

ECONOMYNEXT – Sri Lanka’s Lankem Ceylon Plc, a publicly traded firm, said it had bought a 100 percent stake in Kiffs (Private) Ltd, for 225 million US dollars.

The acquisition was made through J F Packaging (Pvt) Ltd, a 100 percent owned unit of Lankem, the firm said in a stock exchange filing.

Kiffs is a pet bottle maker.

According to its website it was an associate company of Alliance Five (Private) Ltd, which makes janitorial brushes. (Colombo/May06/2017)