In a strategic move to expand its dominance in the plantation sector, Browns Power Holdings (Pvt) Ltd. (BPH), a fully-owned subsidiary of Browns Investments PLC (BIL), has acquired a 100% equity stake in FLMC Plantations (Pvt) Ltd. (FLMC) for a total consideration of Rs. 4.8 billion.
According to a statement released by the company, the acquisition was finalized on May 5 through a share sale and purchase agreement with Damro Manufacturing (Pvt) Ltd. and Piyestra Furniture (Pvt) Ltd.
FLMC serves as the holding company and managing agent of Pussellawa Plantations Ltd (PPL) and Melfort Green Teas (Pvt) Ltd. PPL manages over 11,500 hectares spread across 24 estates, comprising 5,400 hectares of tea, 5,900 hectares of rubber, and 200 hectares of minor crops. These estates collectively produce around 4.3 million kilogrammes of made tea and 2.3 million kilogrammes of rubber annually. They are located in key tea-growing regions across Sri Lanka, including Pussellawa, Udupussellawa, Nuwara Eliya, Kandy, Ruhuna, and Sabaragamuwa.
The acquisition significantly strengthens the Group’s plantation portfolio, aligning with its existing assets under Maturata Plantations Limited, Udapussellawa Plantations PLC, Hapugastenne Plantations PLC, and Tea Smallholder Factories PLC, which was recently acquired.
With this strategic addition, BIL now stands as the largest tea producer in Sri Lanka, boasting a combined annual production capacity of approximately 17.5 million kilogrammes of made tea.
BIL’s global footprint in the tea industry also continues to grow, with operations in China, Kenya, Rwanda, and Tanzania. The company’s international subsidiaries include Browns Plantation Guizhou Tea Company Limited (China), Browns Plantations Kenya Ltd., Limuru Tea PLC, Browns East Africa Plantations PLC (formerly Lipton Teas and Infusions Kenya PLC), Browns Plantations Rwanda Ltd., and Browns Plantations Tanzania Ltd., collectively producing around 100 million kilogrammes of made tea per year.