Sri Lanka’s Renuka Agri Foods buys 100-pct of diary unit

Mar 12, 2013 (LBO) – Sri Lanka’s Renuka Agri Foods said it had bought a residual stake in Rich Life Dairies, a firm which produces ready to drink flavoured milk and fruit juices raising its stake to 100 percent. Renuka Agri Foods said in stock exchange filing that it had paid 100 million rupees for 24 percent of the firm.

In January 2012, Renuka said it had paid 505 million rupees to buy a 76 percent stake in the diary firm.

In September the firm said in had injected 250 million rupees to the diary firm through debentures.

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