Nestlé Lanka

Nestlé Lanka
FormerlyNestlé Ceylon Company (1906-1980)
Company typePrivate
ISINLK0128N00005
IndustryFood processing
Founded1906; 119 years ago (1906) in Colombo
FounderAnglo-Swiss Condensed Milk Company
Headquarters189, T. B. Jayah Mawatha,
Colombo 10
,
Sri Lanka[1]
Area served
Worldwide
Key people
  • Suresh Narayanan (Chairman)
  • Joselito Avanceña (Managing Director)
Products
RevenueIncrease Rs 73.707 billion (2022)
Increase Rs 7.869 billion (2022)
Increase Rs 6.075 billion (2022)
Total assetsIncrease Rs 46.894 billion (2022)
Total equityIncrease Rs 10.742 billion (2022)
ParentNestlé
Websitewww.nestle.lk
Footnotes / references
[2]

Nestlé Lanka (Sinhala: නෙස්ලේ ලංකා පුද්ගලික සමාගම, romanized: neslē laṁkā pudgalika samāgama)(previously known as Nestlé Ceylon Company) and Nestlé Sri Lanka is a subsidiary of Nestlé, a Swiss based company. Nestlé's products include baby food, medical food, bottled water, breakfast cereals, coffee and tea. The company was founded by the Anglo-Swiss Condensed Milk Company in 1906 and incorporated under Nestlé Ceylon Company. Nestlé Lanka is Sri Lanka's largest food company by revenue, with Rs 36.355 billion in 2019. The whole company is controlled by the Nestlé Switzerland parent company. Nestlé S.A. owns over 90 per cent total shares. Nestlé Lanka PLC became the seventh most valuable brand in Sri Lanka worth approximately Rs 21 billion in 2017.[3]

Nestlé Lanka was listed on the Colombo Stock Exchange in 1981. The company has 1,200 employees and 23,000 distributors, suppliers and farmers. The company was renamed in 1980 as Nestlé Lanka PLC before being listed on the Stock Exchange.[4] The company was delisted from Colombo Stock Exchange in 9 August 2023.

History

Nestlé Lanka was established in 1906 as Nestlé Ceylon Company one year after merging with Anglo-Swiss Condensed Milk Company in British Ceylon. The company was incorporated under Nestlé Ceylon Company to Nestlé Lanka PLC in 1980. Sri Lanka has been an agricultural-based country. British Empire helped boost agricultural production. The British government's first cocoa plant was introduced to Ceylon in early 1890. Early 20th-century raw cocoa was exported to Switzerland. Chocolate became popular government wanted to start the local chocolate market, in between this time Anglo-Swiss Condensed Milk Company established a branch in Sri Lanka in early 1906.[5] Sri Lankan history Nestlé become most successful food company. Company brought numerous international brand such as Milo, Nescafé, Cerelac, KitKat and Maggi. Company-sponsored by local sports events and school sports tournaments.[6] Nestlé Lanka PLC won numerous awards and become a number one company past hundred years.[7] Post COVID-19 period Nestlé stock price drop 50% than previous year.[8] Nestlé export most of their product such as Maggi Coconut Milk Nestomalt and Milo.[9] Nestlé Lanka received permission from Securities and Exchange Commission of Sri Lanka to delist the company from Colombo Stock Exchange in 9 August 2023.[10]

Brands and products

Nestlé Lanka is the market leader in Sri Lanka food products with a presence in over 20 food categories such as tea, milk, chocolate, cereal and fast food amongst others with over 20 million local customers consumption.

Manufactured brands[11]
Brand name Product type
Cerelac Baby food
Nangrow
Lactogrow
Nestlé Pure Life Bottled water
Nesquik Cereal Cereals
KitKat Chocolate
Milkybar
Nescafé Coffee
Nescafé 3 in 1
Nescafé Classic
Nescafé Gold
Buitoni Frozen food
Maggi Culinary
Nido Dairy
Carnation
Nespray milk
Nestlé a+
Milkmaid
Nestomalt Energy food
Milo Drinks
Nestea
Nesquik
Nespray
Nestlé Professional
Maggi Food service
Resource Healthcare nutrition
Nestlé Ice Cream Ice cream
Häagen-Dazs
Dog Chow Pet food
Cat Chow

See also

References

  1. ^ "Media contacts". Nestlé. Retrieved 2021-04-16.
  2. ^ "Annual Report 2022/23" (PDF). cse.lk. Nestlé Lanka. 2023. Retrieved 30 August 2023.
  3. ^ "Sri Lanka's most valuable and strongest brands in 2018" (PDF). Brand Finance. April 2018.
  4. ^ "Nestlé in Sri Lanka". Nestlé. Retrieved 2021-04-16.
  5. ^ "Nestlé Lanka PLC Annual Report 2016" (PDF). Nestlé. May 2016.
  6. ^ "Milo Schools President's Trophy Knockout | The Sunday Times Sri Lanka". Retrieved 2021-04-16.
  7. ^ "Nestlé ranked No.1". bizenglish.adaderana.lk. Retrieved 2021-04-16.
  8. ^ "Sri Lanka stocks end 1.14-pct higher". EconomyNext. 2021-04-15. Retrieved 2021-04-16.
  9. ^ Nadeera, Dilshan. "Nestle products become further price competitive in international markets". Retrieved 2021-04-16.
  10. ^ "SEC approval for Nestlé Lanka PLC - Delisting of ordinary shares from the official list of the Colombo Stock Exchange" (PDF). cse.lk. Colombo Stock Exchange. 9 August 2023. Retrieved 30 August 2023.
  11. ^ "Good food, Good life". Nestlé. Retrieved 2021-04-16.