Browns Investments PLC (BIL), the strategic investment arm of the LOLC Group, has significantly expanded its footprint in Sri Lanka’s plantation sector through the acquisition of FLMC Plantations (Pvt) Ltd. The acquisition, finalized on May 5, 2025, was executed via a Share Sale and Purchase Agreement with Damro Manufacturing (Pvt) Ltd and Piyestra Furniture (Pvt) Ltd, for a total consideration of LKR 4.8 billion.
FLMC Plantations is the holding company and managing agent of Pussellawa Plantations Ltd (PPL) and Melfort Green Teas (Pvt) Ltd. PPL operates over 11,500 hectares across 24 estates, managing 5,400 hectares of tea, 5,900 hectares of rubber, and 200 hectares of minor crops. These estates collectively yield 4.3 million kilograms of made tea and 2.3 million kilograms of rubber annually. The properties are located in Sri Lanka’s most prominent tea-producing regions, including Pussellawa, Udupussellawa, Nuwara Eliya, Kandy, Ruhuna, and Sabaragamuwa.
Commenting on the strategic move, Kapila Jayawardena, Group Managing Director/CEO of LOLC Holdings PLC, stated that the acquisition reflects the Group’s long-term vision of expansion and diversification across sectors. “With the addition of Pussellawa Plantations and Melfort Green Teas, we are not only expanding our presence in Sri Lanka’s leading tea regions but also enhancing our capability to deliver high-quality tea to global markets,” he said.
The acquisition further cements Browns Investments’ position as a key player in the country’s agricultural sector.
