CIC Holdings Plc has acquired control of Unipower Ltd. for Rs. 238 million.
The company said it purchased 70% stake or 376,000 shares in Unipower at Rs. 632.17 per share.
Founded in 1988, Unipower is known for specialty fertilisers, agrochemicals and other high-end inputs. It has its head office in Pelawatte, Battaramulla and fertiliser repacking and warehousing units at the Ekala Industrial Estate.
It represents some of the world’s most trusted agricultural brands including Yara, Everris, Grow More, Farmcochem, Ginegar and Goizper.
For almost three decades it has been at the forefront of the specialty agricultural input business in Sri Lanka. It was founded by Jayantha Rajapakse, a pioneer who diversified from the traditional commodity fertiliser and focused on specialty fertilisers in Sri Lanka.