Renuka Shaw Wallace goes for new growth plans

Renuka Shaw Wallace launched its new mission and corporate identity recently. This transformation takes the company's focus from being solely in the agri business sector into a fully-fledged food and beverage company." Renuka Shaw Wallace will function to become one of the largest companies in this segment", a spokesman for the company said.

"Our new name reflects the complete spectrum of businesses we are in and the opportunities we are unleashing. Renuka Shaw Wallace brings together a portfolio of food and beverage companies which are leaders in their segments. It draws on the heritage of trust built by the brands from generation to generation."

"We hope to consolidate direction, unlock synergies by controlling the value chain from raw material to shelf for our consumers locally and globally," said CEO and Executive Director of Renuka Shaw Wallace, Shamindra Rajiyah.

Renuka Shaw Wallace's businesses consist of fast moving consumer goods (FMCG), food service, dairy and agri-exports. These operate under Renuka Consumer Foods Ltd, Shaw Wallace Ceylon Ltd, Shaw Wallace Food Services Ltd, Renuka Products (Pvt) Ltd, Renuka Agri Foods PLC, Renuka Organics (Pvt) Ltd, Renuka Teas Ceylon (Pvt) Ltd and Kandy Plantations Ltd.

Renuka Shaw Wallace PLC raised Rs. 1,008 million by way of a Rights Issue which closed on December 7.