February 7, 2023
Sri Lanka's New Anthoney's Farms acquires entire stake in Gold Coin Feed Mills
New Anthoney's Farms (Private) Ltd, a leading producer in Sri Lanka's poultry sector, recently bought a 100% stake in Gold Coin Feed Mills (Lanka) Ltd from Gold Coin Management Holdings Pte Ltd and Glen Arbor Holdings (Singapore) Pte Ltd, both of whom are subsidiaries of Aboitiz Equity Ventures Inc ("AEV").
With the acquisition, Gold Coin Feed Mills (Lanka) will now be Anthoney's Feed Ltd, making New Anthoney's Group an integrated poultry player with end-to-end supply chain capabilities in Sri Lanka.
New Anthoney's is now able to control and manage the entire manufacturing process, enabling it to further enhance quality delivered and improve production efficiencies.
Furthermore, the acquisition directly fits in with the company's overall objective of accelerating its export growth.
The acquisition was completed following an official signing between both New Anthoney's and Gold Coin in mid- December.
Emil Stanley, chairman of New Anthoney's Group, said: ‘‘This is a historic moment for New Anthoney's. I am confident that the acquisition of the animal feed business from Aboitiz Group will help us to grow our business exponentially and will help us to achieve our vision of becoming a reputed brand in the global poultry market.''
"This was a timely decision considering the many factors at hand and the acquisition will strengthen our position in the feed sector, enabling us to provide an uninterrupted supply of poultry and cater to increasing demand both locally and internationally," said chief executive officer and executive director Neil Suraweera.
- The Island Online