Ambeon Capital to acquire Harischandra Mills, plans voluntary offer

Ambeon Capital PLC has moved to acquire a controlling interest in Harischandra Mills PLC through its subsidiary, Ambeon Essentials (Private) Limited, according to a market disclosure filed with the Colombo Stock Exchange.

The company entered into a Share Sale and Purchase Agreement (SSPA) on 24 January 2026 to acquire 981,118 ordinary voting shares of Harischandra Mills PLC, representing approximately 51.11% of the company’s issued voting shares. The shares are being acquired from a consortium of existing investors.

The transaction, which will give Ambeon Essentials a controlling stake in the food manufacturing company, is subject to obtaining the necessary regulatory approvals from relevant authorities.

Following the acquisition, Ambeon Essentials (Private) Limited has also announced its intention to make a voluntary offer to acquire the remaining ordinary voting shares of Harischandra Mills PLC from all shareholders, in compliance with the Takeovers and Mergers Code and other applicable regulations.

Details of the voluntary offer, including the offer price and specific terms, will be disclosed in due course once the required approvals are secured.

The disclosure was made in accordance with the Listing Rules of the Colombo Stock Exchange and the Securities and Exchange Commission of Sri Lanka Act No. 19 of 2021.