Colombo (LNW): Sri Lanka’s leading business tycoon, Dhammika Perera, has added LAUGFS Holdings PLC to his growing network of investments through his company Wellibell 3 (Pvt) Ltd.
Perera and LAUGFS co-founder W.K.H. Wegapitiya have reached an agreement to jointly operate the new venture, marking a significant step in the diversification of both groups. Industry analysts note this move as a rare instance where Perera has opted for an equal partnership, opening doors for collaboration with other large, professionally managed conglomerates.
Meanwhile, LAUGFS co-founder and Deputy Chairman Tilak De Silva continues to hold 40% of shares, while the remaining 10% stake is yet to be finalized. Once finalized, Wellibell 3 and LAUGFS are expected to release official details including financial terms.
Recently celebrating its 30th anniversary, LAUGFS Holdings oversees 25 diversified businesses and employs over 3,500 people. Its operations span energy, retail, leisure, manufacturing, pharmaceuticals, and engineering services, with a footprint in Sri Lanka, Bangladesh, the UAE, the USA, and the Netherlands. The group generates an annual turnover exceeding Rs. 160 billion.
With this venture, Dhammika Perera — already a key player in banking, finance, tourism, plantations, rubber products, textiles, power, cement, tiles & bathware, electricals, vehicles, and aluminum — now extends his reach into gas, supermarkets, lubricants, and tyre manufacturing.
Experts suggest this strategic partnership will strengthen competition and push these sectors to a new level within Sri Lanka’s economy.
