Brown and Company PLC has announced the sale of its entire 100% stake in Browns Fabric Limited to Ceylon Knit Trend (Private) Limited for Rs. 50,000,000. The transaction was finalised on 20 June. 

Browns Fabric Limited operates a knit fabric manufacturing and processing plant in Pannala. A subsidiary of Browns Group PLC, the Company draws from a rich heritage of over 147 years and is backed by a legacy of one and a half centuries.

Browns Group is one of Sri Lanka’s largest diversified conglomerates, which manages a fast growing and valuable portfolio of brands across several key industry sectors, such as automotive, power generation, agriculture and plantation, pharmaceuticals, investments, marine, and manufacturing as well as leisure.