Sept 01, 2011 (LBO) – Sri Lanka’s Cargills group, which has interests in foods and retailing said it will launch a new biscuit brand after buying a confectionery firm that earlier had a regional market.
The firm also has an ice cream brand, Cargills Magic, which it says is now the top dairy ice cream in the island. In the past year it bought Kotmale a dairy firm which produces both milk and ice cream.
The group also produces fruit preserves under the ‘Kist’ brand and has a meat processing business.
Cargills Quality Confectionaries (Private) Limited, earlier known as Diana Biscuit Manufactures, located in Nalanda, Matale in central Sri Lanka was bought by the group for 342 million rupees.
The firm produced wafers, hard and soft dough biscuits and sold under the brand ‘Helan’. But the factory can now make a wider range of products, chairman Louis Page told shareholders in the annual report.
“The first range of biscuits made to new recipes is to be launched shortly under a new brand name and would without doubt excite customers and the industry with its
sensational new selection of biscuit varieties,” he said.
Cargills has its own ‘Cargills Food City’ branded self-service ret