Thailand’s Charoen Pokphand Foods PLC recently moved in to acquire 80 per cent shares of Sri Lanka’s prominent food producer Norfolk Foods (Private) Limited with an investment of 04 million US dollars.
While this acquisition was handled on behalf of Charoen Pokphand Foods PLC by its subsidiary CPF Investment Ltd by acquiring ownership of 50 per cent owned by Expolanka Holdings PLC, the balance was by purchasing the shares of its Managing Director Mohamed Ziyaudeen and Zareeha Ziyaudeen.
This transaction was carried out on 14 July where Expolanka Holdings had divested 50 per cent share ownership of Norfolk Foods (Pvt) Ltd for 2.5 million US dollars.
Norfolk Foods (Private) Limited, which produces prepared chicken, Samosa, cheese, sausages, meatballs etc under the brand name of Crescent began its operations in Sri Lanka in 1994.