TWC Capital Advises CBL Group on USD 25 Million Indonesian Acquisition

TWC Capital (PVT) LTD, the corporate financial advisory arm of TWC Holdings, acted as the exclusive buy-side financial adviser to CBL Group on its acquisition of PT Tri Jaya Tangguh Indonesia (TJT), a large-scale coconut processing facility in Indonesia, with an investment exceeding USD 25 million.

This transaction marks TWC Capital’s third cross-border mergers and acquisitions advisory mandate in the past two [02] years, reinforcing its growing reputation for executing complex international transactions for leading Sri Lankan and overseas corporate entities.

Commenting on the acquisition, Group Managing Director, CBL Group - Ms. Shea Wickrmasingha noted: “This acquisition is a strategic step in increasing capacity and enabling geographic risk mitigation, with the objective of strengthening our market share in the global coconut milk category. Currently, we are the largest coconut milk exporter in Sri Lanka. The new acquisition enables us to build greater resilience into our supply chain while leveraging Indonesia’s strong trade linkages to key export destinations.”

CBL Group is one of Sri Lanka’s largest diversified food manufacturing conglomerates. The acquisition enables CBL to establish a strategic foothold in Indonesia - the world’s largest exporter of coconuts - and aligns with TWC’s broader vision of supporting Sri Lankan companies in their transformation into regional and global champions.

Director/ CEO - CBL Natural Cluster, and President Director - PT Tri Jaya Tangguh Indonesia - Mr. Randeewa Malalasooriya stated: “Indonesia is a critical hub in the global coconut industry. This acquisition strengthens our regional manufacturing footprint and export capability, while enhancing scale and supply chain resilience across our operations. We appreciate the structured advisory support provided throughout this cross-border transaction, which enabled disciplined execution across regulatory and financial requirements. Special appreciation to TWC Team for the commitment, attention to detail, and willingness to go beyond expectations.”

Chairman and Managing Director, TWC Holdings - Thilan Wijesinghe stated: “We are proud to be part of CBL Group’s journey as it expands its global footprint and strengthens its position as a leading player in the international coconut manufacturing industry.”

The transaction is a strong testament to TWC Capital’s capability in managing sophisticated cross-border M&As, successfully navigating multi-jurisdictional regulatory frameworks, language and cultural considerations, and complex tax and structuring challenges.

Chief Executive Officer, T W C Capital - Rasanja Perera, CFA, concluded: “We are extremely proud to support CBL Group on this transformational cross-border investment. Leading the TWC Capital team on a transaction of this scale and strategic significance is both a privilege and a testament to our commitment to delivering outstanding outcomes for our clients.”

TWC Capital advised CBL Group across the full transaction lifecycle, including: conducting a comprehensive study of Indonesia’s coconut manufacturing industry to identify suitable acquisition targets. The firm structured the transaction to optimise commercial, regulatory, and tax outcomes, performing business valuation, incorporating strategic and operational synergies for CBL. In addition TWC led negotiations with sellers on commercial terms, negotiated transaction documentation, assisted in offshore fundraising to finance the acquisition and working capital requirements, secured regulatory approvals for overseas investment from the Central Bank of Sri Lanka and the Ministry of Finance, and coordinated comprehensive technical, legal, financial, tax, employee, and ESG due diligence. TWC also reviewed due diligence findings and embedded risk-mitigation strategies into the transaction structure, as well as evaluated the fulfilment of conditions precedent prior to financial close.

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Captions

1. (From left) Sellers’ Financial Advisors, Sellers’ Legal Counsel, Sellers, CBL team, CBL’s Financial Advisors, and CBL’s Legal Counsel.

ABOUT TWC Holdings

T W Holdings Pvt Ltd (T W C) is a premier investment banking and advisory group, delivering innovative solutions and strategic guidance across a broad spectrum of areas to corporates, State Owned Enterprises, multilateral donors and governments. Founded in 2012 by Thilan Wijesinghe, an accomplished public-private partnerships (PPP) specialist, and entrepreneur, T W C was built on a visionary approach that combines expertise in investment banking, PPPs, policy advocacy and real estate development management. T W C is the only company in Sri Lanka with a management team that has international experience in investment banking and law, founded, managed and exited successful businesses, has a deep understanding of policy and regulatory issues having served in high-level government positions and has advised governments of Bangladesh, Maldives and Sri Lanka on PPPs. T W C also leverages its expertise in key sectors that are attractive for private sector investment, which has enabled it to build a strong track record of executing landmark transactions valued at over USD 2 billion.

T W C also has extensive experience in real estate development advisory, having led or supported the structuring, execution, and management of high-profile residential, hospitality, and mixed-use projects in Sri Lanka. This includes providing end-to-end support across feasibility, financing, regulatory approvals, and project delivery, making T W C a trusted partner for investors and developers seeking to unlock value in complex real estate ventures.