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New Anthoney’s Group buys 100% stake of Gold Coin Feed Mills Lanka

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New Anthoney’s Farms Chairman Emil Stanley with Xae Hoyy Loh, Director of Gold Coin
New Anthoney’s Farms Chairman Emil Stanley with Xae Hoyy Loh, Director of Gold Coin

New Anthoney’s Farms (Private) Ltd, recently bought 100% stake in Gold Coin Feed Mills (Lanka) Ltd from Gold Coin Management Holdings Pte Ltd and Glen Arbor Holdings (Singapore) Pte Ltd, both of whom are subsidiaries of Aboitiz Equity Ventures Inc (“AEV”).

With this acquisition Gold Coin Feed Mills (Lanka) will now be Anthony’s Feed Ltd, making an integrated poultry player with end-to-end supply chain capabilities in Sri Lanka.

With this acquisition New Anthoney’s is now able to control and manage the entire manufacturing process end to end, enabling it to further enhance the quality delivered to its customers and improve production efficiencies. New Anthoney’s is also among the top exporters of poultry products in Sri Lanka and this acquisition directly fits in with the company’s overall objective of accelerating the export growth further, earning valuable foreign exchange to the country.

The acquisition was completed following an official signing between the two companies during mid- December. Nithya Partners acted as legal advisor to New Anthoney’s whilst Saminda Weerasinghe, CFA acted as financial advisor to the buyer. TWCorp (Pvt) Ltd was exclusive financial advisor to the seller whilst Julius & Creasy acted as legal advisors to the seller.

Emil Stanley, the Chairman of New Anthoney’s Group, said ‘‘This is a historic moment for New Anthoney’s. I am confident that the acquisition of the animal feed business from Aboitiz Group will help us to grow our business exponentially and will help us to achieve our vision of becoming a reputed brand in the global poultry market.’’

‘This was a timely decision considering the many factors at hand and the acquisition will strengthen our position in the feed sector enabling us to provide an uninterrupted supply of poultry and also cater to the increasing demand both locally and internationally,’ said Neil Suraweera, CEO and Executive Director.

The foundation of New Anthoney’s is the farmer who ensures the nation receives the right proteins. As a result, the country’s more significant population depends on animal producers regardless of its size inside the country.

New Anthoney’s supports the transformation of animal production systems, both small-scale and large-scale, in ways that are sustainable from an economic, social, and environmental perspective to increase livestock’s contribution to the supply-demand chain.

 

Monday, January 30, 2023 – 01:00











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