CAL advises Sunshine Holdings on a Rs. 1.7 bln acquisition of Daintee Ltd 

Consolidating its stance as a Sri Lankan family business expert, Capital Alliance Partners Ltd (CAL) was the advisor to Sunshine Holdings PLC on the recent acquisition of Daintee Ltd. The transaction was structured by CAL to enable the Sunshine Group to expand its operations in the FMCG space with the use of Daintee’s well established brands, thereby maximizing the growth prospects of both entities.

“Functioning as the Buy-side Advisors to the Sunshine Group, CAL was entrusted the role of harnessing the value of the Daintee brand that has been created over the years and plugging it into the Sunshine Group such that they can expand their presence as a leading FMCG conglomerate in Sri Lanka,” CAL said in a media release.

Having negotiated through a number of prospective investors, CAL played an instrumental role in the implementation of the transaction by liaising with all related parties and engaging in negotiations with Daintee, on behalf of Sunshine, securing the most beneficial terms of the transaction.

Having been a family-run business over the past 35 years, Daintee has become a household name as one of the largest players in the confectionary space in Sri Lanka with an island-wide footprint and over 95,000 touchpoints.

Commenting on the acquisition, Sunshine Group Managing Director Vish Govindasamy said; “I believe this transaction positions the Sunshine Group on the path to becoming the leading FMCG conglomerate in Sri Lanka and is a strong statement about our vision to grow.”