George Steuart & Company Ltd. (GS&Co) yesterday (2) announced its intent to acquire majority control of HVA Foods PLC, one of Sri Lanka’s fast growing and innovative value-added tea exporters. “Established in 1835, George Steuart & Co is the oldest mercantile establishment in Sri Lanka; it is today one of the fastest expanding conglomerates in the country with diverse business holdings across a plethora of industries. HVA Foods PLC, which is a dynamic player in the global tea market with its flagship brand Heladiv, is known for redefining tea as a beverage, transcending orthodox tea preparations by innovating contemporary tea-based products,” George Steuart said in a press release. This will add innovative beverage segments such as iced tea, tea cordials, moringa teas, and king coconut/aloe vera-based drinks to the George Steuart portfolio. Being the first iced tea brand in the country, we led the march in inspiring traditional tea exporting concerns to become relevant in the new age.

Source: The Nation December 03, 2020 03:00 UTC