Renuka Holdings PLC, also called Renuka Group, is a

conglomerate company A conglomerate () is a multi-industry company – i.e., a combination of multiple business entities operating in entirely different industries under one corporate group, usually involving a parent company and many subsidiaries. Conglomerates ...

in Sri Lanka. Ceylonese businessman Alfred Thambiyah laid the foundations of the Renuka Group by acquiring the Crago Boat Dispatch Company in 1936 and establishing Renuka Hotel, named after his youngest daughter Indu Renuka in 1969. Indu Renuka Rajiyah founded Renuka Enterprises in 1975, and Renuka Holdings in 1979 marked the formal beginning of the group. Renuka Holdings went public in 2008 and following the listing on the Colombo Stock Exchange, the company pursued a growth strategy. Renuka Holdings is one of the ''LMD'' 100 companies in Sri Lanka and also one of the 20 largest conglomerates in Sri Lanka.

History

Ceylonese businessman Alfred Thambiayah laid the foundations of the Renuka Group. Thambiyah went to business with Chittampalam A. Gardiner, and together they cofounded Ceylon Theatres Ltd in 1928. In 1936, Thambiyah acquired the Cargo Boat Dispatch Company, a shipping company operating in the

Port of Colombo The Port of Colombo (known as Port of Kolomtota during the early 14th Century Kotte Kingdom) is the largest and busiest port in Sri Lanka and the Indian Ocean. Located in Colombo, on the southwestern shores on the Kelani River, it serves as an ...

. Thambiyah was appointed chairman and managing director of

Cargills (Ceylon) Cargills (Ceylon) PLC is a Sri Lankan Retail, FMCG, Banking and Restaurant company which is listed on the Colombo Stock Exchange. The controlling interest in the company is held by Ceylon Theatres PLC. History In 1844 British businessman Willi ...

and Millers in 1960. In 1969, Renuka Hotel built in Colombo and named after Thambiyah's youngest daughter Indu Renuka. Indu Renuka Rajiyah founded Renuka Enterprises in 1975 and Renuka Holdings in 1979 marking the beginning of the Renuka Group. In 2008, Renuka Holdings was listed on the Colombo Stock Exchange. Renuka Group acquired a stake of 76% in Richlife Dairies for LKR505 million in 2012. At the end of 2012, Renuka Holdings became one of the two companies in Sri Lanka to be included in

Forbes Asia ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also rep ...

's "Best Under a Billion". Following its public listing, the company pursued an expansionist strategy. Renuka Holdings acquired Shaw Wallace Ceylon Ltd in 2012. Access to Shawa Wallace's

distribution channel Distribution (or place) is one of the four elements of the marketing mix. Distribution is the process of making a product or service available for the consumer or business user who needs it. This can be done directly by the producer or service p ...

was the strategy behind the acquisition. After the acquisition, Shaw Wallace PLC was rebranded as Renuka Foods PLC in 2014. Renuka Holdings renamed its subsidiary Kalamazoo Systems PLC to Renuka Capital in 2017 and to Shaw Wallace Investments PLC in 2021.

Operations

Renuka Holdings is one of the ''LMD'' 100 companies in Sri Lanka. ''LMD'' 100 ranks the top 100 listed companies in Sri Lanka by revenue annually. Renuka Holdings ranked 73rd in the 2020/21 edition while its indirect subsidiary Renuka Foods ranked 74th. Renuka Holdings is one of the 20 largest conglomerates in Sri Lanka. In 2019, Renuka Holdings' corporate brand value was worth LKR1,279 million. In 2020, Renuka Holdings entered into an agreement with Sanken Constructions to develop an LKR3.9 billion mixed development project near the

Galle Face Green Galle Face is a ocean-side urban park, which stretches for along the coast, in the heart of Colombo, the financial and business capital of Sri Lanka. The promenade was initially laid out in 1859 by Governor Sir Henry George Ward, although t ...

. The project is known as Galle Face Icon and it would be a 32-storey building with office spaces. The project is planned to operate under Renuka Holdings' subsidiary Galle Face Properties Ltd. Subsidiaries of Renuka Group, Shaw Wallace & Hedges and Shaw Wallace Investments acquired a stake of 63.5% of Guardian Capital Partners PLC from

Carson Cumberbatch Carson Cumberbatch PLC is one of the largest conglomerates in Sri Lanka which also has business interests in Indonesia, Malaysia, and India. The company has its origin in the colonial era, having been founded by merging two companies founded by ...

in 2021. Guardian Capital Partners is a

private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a t ...

firm and earlier it was planned to be sold to Singapore-based Gazelle Asset Management. After that arrangement fell through, Renuka Group's subsidiaries acquired the company for LKR533.27 million.

References

External links

Official website
{{All Share Price Index 1979 establishments in Sri Lanka Conglomerate companies established in 1979 Companies listed on the Colombo Stock Exchange Conglomerate companies of Sri Lanka Holding companies of Sri Lanka Food and drink companies of Sri Lanka

History

Operations

See also

References

External links