FINANCIAL CHRONICLE – The Sri Lanka-based food manufacturer, CBL Group, has announced the acquisition of a coconut processing plant in Indonesia for $25 million. This strategic move aims to enhance the company’s supply chain and strengthen its position in the value-added products sector.
“This acquisition is a strategic step in increasing capacity and enabling geographic risk mitigation, with the objective of strengthening our market share in the global coconut milk category,” stated Shea Wickramasingha, Group Managing Director of CBL Group, in a statement. “The Indonesian factory will also enable us to further leverage Indonesia’s trade agreements with several export markets.”
The newly acquired facility, PT Tri Jaya Tangguh Indonesia (TJT), employs over 800 workers. The acquisition was supported by the International Finance Corporation (IFC), a member of the World Bank Group.
“Bringing TJT into the CBL Group allows us to significantly scale our processing and manufacturing capabilities, strengthen supply-chain resilience, and better serve international customers,” commented Randeewa Malalasooriya, Chief Executive Officer of CBL Natural Cluster. “With this investment, we are targeting a substantial increase in production capacity, alongside the expansion of exports to key international markets, including Europe and the United States.”
Last year, Sri Lanka exported over $1 billion worth of coconut-based products. CBL has also announced plans to expand its Sri Lankan operations by doubling capacity.
Founded in 1968, CBL Group produces a variety of products including biscuits, confectionery, cereal, coconut, and convenience foods. The company currently operates in 65 countries. (Colombo/Jan21/2026)
