Misty Mountains Holdings Limited signed an Agreement with John Keells Holdings for the purchase of Keells Plantation Management Services (Pvt) Ltd.
April 3, 2004 (Press Release) --
Colombo, Sri Lanka – April 2004. Misty Mountains Holdings Limited has signed a Share Purchase Agreement with John Keells Holdings for the purchase of Keells Plantation Management Services (Pvt) Ltd. and with that purchase of a controlling 58.75% interest in Namunukula Plantations Ltd., a public company listed on the Colombo Stock Exchange.
With this acquisition Misty Mountains has taken a giant step in its business strategy to identify and acquire existing underutilized quality tea companies and/or assets. The next step is the restructuring of these acquisitions into a set of Foundation Companies from which to launch a new international Tea firm. The Foundation Companies provide Misty Mountains with the structure and muscle needed to produce and market Premium Quality Teas, Specialty Teas, Ayurveda and Medicinal Teas and related lifestyle products under the Heladiv and Misty Mountains Brand names and localized Brand names to retail customers, retailers and wholesalers.
Namunukula Plantations Ltd. is the largest producer of Sri Lankan low-country Tea, accounting for 2.79 % of the country’s total production. The Tea Plantations are situated in two distinct climate zones, with Namunukula high and medium grown Tea accounting for 2.18 % of up-country Tea production.
The underpinning of the Misty Mountains Holdings Limited business plan is Product Stewardship of its Branded Products from the earth to the end user. This allows for substantial rates of return on lower distribution and marketing costs of premium quality, specialty and value added Tea and related products. The natural Life Cycle (or Chain of Custody) begins with the growing and harvesting of tea and spices and continues through the processing and transportation to sales and end user consumption. The process will provide the world’s finest quality products and build a Sri Lankan structure for social and economic growth. This approach to the market place requires the integration of exceptional quality control, cost controls, an understanding of customer desires, product development, brand building, and direct distribution to specialty wholesalers, retailers and customers.
With the “earth to customer” market approach comes a high degree of visibility which can be considered “leadership currency”. This currency will be spent to demonstrate business and agronomy solutions to the Sri Lankan Tea Industry and to showcase worker, conservation and environmental programs to the Misty Mountains customer base, to all of Sri Lanka, and other concerned food producers globally.
With this acquisition Misty Mountains has taken a giant step in its business strategy to identify and acquire existing underutilized quality tea companies and/or assets. The next step is the restructuring of these acquisitions into a set of Foundation Companies from which to launch a new international Tea firm. The Foundation Companies provide Misty Mountains with the structure and muscle needed to produce and market Premium Quality Teas, Specialty Teas, Ayurveda and Medicinal Teas and related lifestyle products under the Heladiv and Misty Mountains Brand names and localized Brand names to retail customers, retailers and wholesalers.
Namunukula Plantations Ltd. is the largest producer of Sri Lankan low-country Tea, accounting for 2.79 % of the country’s total production. The Tea Plantations are situated in two distinct climate zones, with Namunukula high and medium grown Tea accounting for 2.18 % of up-country Tea production.
The underpinning of the Misty Mountains Holdings Limited business plan is Product Stewardship of its Branded Products from the earth to the end user. This allows for substantial rates of return on lower distribution and marketing costs of premium quality, specialty and value added Tea and related products. The natural Life Cycle (or Chain of Custody) begins with the growing and harvesting of tea and spices and continues through the processing and transportation to sales and end user consumption. The process will provide the world’s finest quality products and build a Sri Lankan structure for social and economic growth. This approach to the market place requires the integration of exceptional quality control, cost controls, an understanding of customer desires, product development, brand building, and direct distribution to specialty wholesalers, retailers and customers.
With the “earth to customer” market approach comes a high degree of visibility which can be considered “leadership currency”. This currency will be spent to demonstrate business and agronomy solutions to the Sri Lankan Tea Industry and to showcase worker, conservation and environmental programs to the Misty Mountains customer base, to all of Sri Lanka, and other concerned food producers globally.
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