Financial Times

Browns to expand under new owners, hire fresh talent
Brown and Company Ltd., one of the oldest firms in Sri Lanka, whose ownership changed hands recently with the Cooray family selling their stake to a new group of investors, plans to hire fresh talent to drive the group’s expansion, its chairman M. V. Theagarajah said.

The group also intends to make better use of its extensive network of outstation branches, which are now under-utilised, and develop them on the lines of a ‘mega-store’ concept where a wide range of products would be sold, he said.

“We want to expand the business further and grow the various companies under Browns and its subsidiaries,” Theagarajah said.

“We want to bring in new talent to make the group grow. We intend recruiting specialists into the group – in different fields such as finance, management, strategy.” Browns plans to turn its 30 outstation branches into ‘mega-stores’ where a wider variety of its products will be displayed. “The branches now display mainly electronic products,” said Theagarajah. “We want to develop them into ‘mega-stores’ and display all our products.”

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