Business leader Dhammika Perera is set to expand his fast-growing corporate empire by partnering with diversified, unlisted LAUGFS Holdings Ltd, Daily FT reported.
The acquisition is being executed through Perera’s latest investment arm, Vallibel 3, which has been structured to pursue 50:50 partnerships with professionally managed and high-potential companies. This marks a strategic shift from Perera’s previous approach of securing majority stakes in businesses.
Already acquired 40%
According to Daily FT, an understanding has been reached between Perera and LAUGFS Chairman and Co-Founder W.K.H. Wegapitiya. Perera has already acquired a 40% stake from Co-Founder and Deputy Chairman Thilak De Silva, while the remaining 10% is expected to be finalized shortly. A formal disclosure of the transaction price and details will follow. Wegapitiya welcomed Perera’s entry, emphasizing it as a collaborative move rather than a takeover, reflecting their shared entrepreneurial roots.
Celebrating its 30th anniversary recently, LAUGFS Holdings is one of Sri Lanka’s most diversified conglomerates with interests across more than 25 industries, employing over 3,500 staff and recording an annual turnover exceeding Rs. 160 billion. The Group operates in Sri Lanka, Bangladesh, the UAE, the USA, and the Netherlands, spanning energy, retail, pharmaceuticals, logistics, leisure, manufacturing, engineering, and trading.
This latest move follows Perera’s acquisition of East-West Properties PLC for Rs. 3.2 billion and DHT Cement Ltd. for $20 million via Vallibel X. His wider portfolio already includes Hayleys PLC, Singer PLC, Royal Ceramics PLC, Lanka Tiles PLC, Sampath Bank PLC, Pan Asia Banking PLC, LB Finance, and Vallibel Finance.
The Colombo Stock Exchange saw heightened investor interest in LAUGFS Gas PLC last week amid speculation over the deal. Shares rose 22% for the week, reaching a new 52-week high of Rs. 40.20 with 3.5 million shares traded for Rs. 139 million.
Self-Made To Self-Made
From its origins as an LPG importer, LAUGFS Gas has grown into a leading regional energy company, backed by LAUGFS Maritime’s cargo fleet and LAUGFS Terminals’ large-scale transshipment hub. The Group’s portfolio also includes renewable energy under LAUGFS Power, global solid tyre exports through LAUGFS Rubber, convenience retail via LAUGFS Supermarkets, luxury hospitality through LAUGFS Leisure, and a host of other ventures spanning lubricants, petroleum retailing, engineering, life sciences, property development, and global energy trading through its Dubai-based SLOGAL Energy DMCC.
