Distilleries Company of Sri Lanka PLC
| Public | |
| Traded as | : DIST.N0000 |
| Industry | Diversified |
| Founded | 1917 |
| Headquarters | Colombo, Sri Lanka |
|
Key people
|
Harry Jayawardena (Chairman) |
| Products | Food and beverage, financial services, health care, telecommunication |
| Revenue |
 US$ 500 million (2006/2011)
|
|
Number of employees
|
44,200 |
| Website | www.dcslgroup.com |
Distilleries Company of Sri Lanka PLC (DCSL) is a diversified Sri Lankan conglomerate listed on the with a market capitalisation of US$300 Million. It was one of the first Sri Lankan companies to be listed in Forbes's Best Managed companies under a USD billion (outside USA). The company has also been featured in business magazine Business Today as one of its Top 10 listed companies in Sri Lanka.
It was established in 1917 as the liquor producing division of the Excise Department of Ceylon. In 1974, the State Distilleries Corporation was established to take over the liquor distilling and producing activities of the Excise Department of Ceylon. On November 17, 1989 State Distilleries Corporation was converted into a company with shares. Thus, Distilleries Company of Sri Lanka Limited was born, under the Conversion of Public Corporations Act No: 23 of 1983. On February 20, 1992, 60% of the company were sold on the to the highest bidder, a consortium of investors formed by Milford Exports Ceylon Limited, Lanka Milk Foods (CWE) Limited (both companies controlled by Sri Lankan businessman Harry Jayawardena) together with Smith New Court Investors from Singapore.
Distilleries Company of Sri Lanka PLC has been called "a landmark success in privatisation". A state owned company producing liquor, it was privatised by the state in 1992. After less than two decades of privatisation, DCSL has become a conglomerate with diversified interests in many areas of the country's economy.
In 1995, the company entered into a joint venture with Pernod Ricard of France, one of the top 5 liquor producers in the world, to incorporate Periceyl Limited to produce whiskeys, brandies, and other international liquor in Sri Lanka for the Sri Lankan market. The company represents world-renowned brands such as Chivas Regal and Jameson Irish Whiskey in Sri Lanka. Also in 1995 the company acquired the century old Beruwala Distillery Limited.
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Wikipedia