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These acquisitions paved the way for John Keells Limited, and the firm went public in 1974.
Twelve years later, a new firm named John Keells Holdings (JKH) was incorporated to acquire John Keells Limited, thereby bringing to life the modern-day titan of corporate Sri Lanka.
The second most valuable company on the Colombo Stock Exchange, CTC is part of British American Tobacco (BAT), which is headquartered in London.
The parent firm, BAT, is among the top five largest tobacco companies in the world.
In the early 1870s, two Englishmen, Edwin & George John, decided to start a small exchange and produce broking business in Colombo. Later, the firm acquired another local broking company named Keell & Waldock Ltd, which resulted in the firm being renamed John Keell Thompson White Ltd (JKTWL).
The local arm, CTC, has been in business in Sri Lanka for over a 100 years, and again, is very much something that has survived since the British ruled Sri Lanka.The producer of Milo, every young Sri Lankan’s favourite beverage, Nestlé began its operations way back in 1866.Corporate Sri Lanka is a treasure trove of interesting stories, if you’re into that sort of thing.Before you start to question our thinking, consider this: quite a few Sri Lankan companies have been around since the days of the British Empire.
However, operations in Sri Lanka began in 1906, and the firm’s first products were Lactogen infant food, and Milkmaid, which is pretty much THE condensed milk brand in Sri Lanka.
Sometime around 1934, Nestlé started Milo in Sri Lanka, followed by Maggi, Nescafé, and Nestomalt over the next 20-30 years.